Firm linked to Vimal Shah, ex-CBK governor lose Sh2bn Tatu City row

An investment vehicle linked to Bidco Africa Chairman Vimal Shah and former Central Bank of Kenya Governor Nahashon Nyagah is set to lose its stake in Tatu City. This follows the Privy Council in Mauritius dismissing an application by associate Stephen Mbugua Mwagiru to stop the sale of shares held in Cedar IV and Cedar V. The London Court of International Arbitration had ordered $15 million in damages in 2018, which the minority investors failed to pay. The Privy Council ruled that Mwagiru lacked legal standing under Mauritius' Insolvency Act.