A simmering domestic and corporate battle has erupted within one of Kenyas most influential business families, pitting Peter Munga, the founder of Equity Bank Group, against his wife, Rose Njambi Munga, in a Ksh640 million 5 million legal fight over shares in Britam Holdings Plc.
The case, now before the High Court in Nairobi, centers on 75 million Britam shares currently pledged as collateral to ABC Bank. Peter Mungas wife argues that the shares are matrimonial property, acquired during the couples decades-long marriage, and could not lawfully have been charged to the bank without her written consent.
The loan at the center of the feud