2021-2025
Kenya: GEMS exit following mounting debts and symbolic sale of school for $1
GEMS gradually left the Kenyan market following financial difficulties at its schools. Court documents cited by Business Daily Africa show that Gems Africa, linked to Sunny Varkey, sold Regis School Runda to its local principal for one dollar in 2021 while debts accumulated; the market exit subsequently generated disputes and claims involving the schools and their debts.
- State of the evidence
- Documented
Sources · 2
- [1]
- [2]
