HEADS TOGETHER: KCB CEO Joshua Oigara and a colleague at a past event

After months of a protracted push-and-pull, Kenya Commercial Bank (KCB) has finally given into the demands by Cofek to have it totally waive the "residual loan" the bank attached to its' mortgage client who let go her property and found a new buyer of the multi-million Karen house.

Ms Rose Shumi Miscowicz has every reason to thank Cofek after the bank on November 5, 2018 wrote to her saying " ... we are pleased to advise that the Bank has exceptionally - but on a without prejudice basis, agreed to write off your residual loan balance and allow the matter to rest. We will therefore proceed to clear and discharge you from obligation under the lending contract and update your status with the CRB's"

But the bank has one condition "... that neither party shall thereafter have or pursue further claimsas against the other with regard to the facility", said Mr Kennedy Kasamba, the senior recovery manager.

Ms Miscowicz in her response dated November 6, 2018 said she still deserves to be compensated for tribulations - agony, long wait, spending on getting justice and her son failing to go to university after she could not borrow - on account of the negative listing with two CRBs.

"While we note your latest offer of waiving the “residual loan balance”, I cannot allow the matter to rest on many accounts;

"Your letter confirms my conviction, that there was no residual loan due to you and that I was being irreparably punished unfairly and for no reason at all. That I had long asked you to deal with the Consumers Federation of Kenya (Cofek) whom I authorized, waived m privacy and confidentiality with the bank and allowed to act for and my behalf. Despite my express instructions and their writing to you on many occasions, you deliberately ignored them ... That I have suffered more than enough in too many incidents than I can enumerate here save to mention the recent one where my son was unable to join a University in the Cyprus to pursue a course in medicine at a cost of 40,581 Euros because I can no longer borrow funds from any bank given your malicious negative listing with CRBs"

"That the direct and indirect spending including stress and lost opportunities cannot be easily contemplated. What I can state at this point in time, is that nothing short of due compensation, will rest this matter. I am prepared to do what I can, and what it takes – time and money and through Cofek, to pursue this matter to its’ logical conclusion. Finally, I urge you to deal with Cofek and have the matter of compensation settled within the next 7 days or else, I am aware that litigation against the bank cannot be avoided.

"If I cannot secure justice under Article 46(1)(d) of the Constitution, then consumer rights are in my view vague to be rubbished by the ill-treatment that KCB has made me to undergo" she concluded 


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Questions as KCB mistreats customer, CRB lists her twice

KCB Kenya Chairman is managing partner at the Hamilton Harris & Mathews Adil Khawaja who also sits on the Kenya Power board. Other directors are CEO Joshua Oigara, T.D ipomal, Treasury CS Henry Rotich, S.K Rono, N. Onyango, C. Okongo and S. Makome

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