Home Africa Kenya: Billionaire Vimal Shah Narrates Losing Over Ksh100 Million in Forex Deal

Kenya: Billionaire Vimal Shah Narrates Losing Over Ksh100 Million in Forex Deal

Rédaction Africa Links 24 with Kenyans.co.ke
Published on 2026-09-15 10:57:00

Kenyan billionaire Vimal Shah has opened up about losing Ksh102.4 million in a failed foreign exchange deal after seeking dollars to pay for imported raw materials.

While testifying in court on Monday, September 15, Shah said the money was transferred from his company’s account after an agreement was reached to facilitate access to foreign currency in 2023.

The court heard that Ksh102,437,500 was transferred to another company instead of directly to the individual who had arranged the…

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