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EA Cables cedes assets to Ecobank

A signage outside Ecobank branch in Nyeri town. The bank has appointed a receiver manager to take over certain assets of East African Cables. FILE PHOTO | NMG

By  Victor Juma

Business Editor

Nation Media Group

Ecobank Kenya Limited has appointed a receiver manager to take over certain assets of East African Cables #ticker:CABL that has defaulted on a Sh161 million loan from the lender.

A notice in the latest Kenya Gazette says that the lender appointed Kereto Marima to take custody of the cables manufacturer’s plant and machinery effective January 31, 2020.

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