PREMIUM Changamwe MP faces auction over Sh320m bank loan Properties listed for auction including Mwinyi’s two residential homes. Business 15 min ago
The auction is the latest chapter in a long-running debt recovery battle between Diamond Trust Bank and Panal Freighters Limited, a transport and logistics company associated with the legislator.
Photo credit: Pool The five properties include two residential homes on Mombasa Island owned by Mr Mwinyi, which the legislator used to guarantee the loan advanced to Panal Freighters.
The five properties, including Mwinyi’s two residential homes which had been used to guarantee the facility from Diamond Trust Bank (DTB), will be auctioned on August 27, said Dalali Traders Auctioneers in a public notice.
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