Photos of the Two Rivers Mall, owned by businessman Chris Kirubi, have sparked fears among Kenyans about the potential collapse of another bank.
Kenya is currently facing economic challenges, with some attributing the situation to poor management and corruption. The World Bank and IMF have provided optimistic forecasts, but these projections are being questioned.
The President has been criticized for his handling of corruption, including his defense of former Cabinet Secretary Anne Waiguru and the disbandment of the Ethics and Anti-Corruption Commission (EACC) Board.
Corporate fraud has also been a concern, with some publicly-listed companies engaging in questionable practices. The Nation Media Group's Business Daily has been accused of propagating misleading information to fleece the public.
Meanwhile, Governors have been accused of mismanaging county funds, with some allegedly stealing money openly. The question remains as to where all the looted money is going.
The answer may lie in the real estate sector, which has seen significant investment in recent years. However, this has also led to concerns about the sustainability of the economy.
Some have warned that the current situation is reminiscent of the recession in America, which was preceded by a booming real estate sector. The high prices of real estate in Kenya, despite poor infrastructure and amenities, have raised eyebrows.
The judiciary has also been criticized for its handling of corruption cases, with a focus on petty crimes rather than tackling the root causes of corruption.
There are concerns about the stability of certain banks, with some advising customers to withdraw their funds. The Cooperative Bank has been mentioned specifically, due to its alleged involvement in insider trading and manipulation.
The situation has led to warnings that the economy is on the brink of collapse, with some calling for urgent action to address the issues.
