Nairobi, May 14 -- KCB Group is seeking Sh7 billion from the disposal of 2,000 acres of land recovered from East Africa Portland Cement Company (EAPCC). The land is currently occupied by squatters, including households, and businesses such as hotels and warehouses.

EAPCC reached a deal with the bank in 2019 to settle the cement manufacturer's Sh6.8 billion outstanding loan but the parcel in Mavoko, Athi River, had already been invaded by settlers long before the pact.

The bank has transferred properties worth Sh6.99 billion from its investments book to assets available for sale, signaling KCB's intent to liquidate the Mavoko land to cash marking a key step in the lender's loan recovery strategy.

The move sets the bank up for a face-off...