Zimbabwean businessman Wicknell Chivayo, his wife die in helicopter crash

Court orders UAP insurance to pay Akiba Commercial Bank Sh1.6 billion of loan defaults

Office premises of Akiba Commercial Bank in Dar es Salaam. The Commercial Division of the High Court has ordered an insurance firm to pay the lender Sh1.6 billion to cover for loan defaults. PHOTO | FILE

By  Bernard James

What you need to know:

  • The insurer had undertaken to guarantee various customers of the commercial bank who would receive loans in various forms

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