Everyone wants to know that their money is in safe hands. When rumors started spreading on Wednesday that Chase Bank was going under, everyone rushed to withdraw their money. More than Sh8 billion to be exact according to CBK governor Patrick Njoroge.
If the mass panic did not happen, there would have been minimal disruptions. The CBK governor actually says that the decision to put it under receivership was made at 4am in the morning.
It so happens that Chase has a subsidiary by the name Rafiki Microfinance.
Following the events at its parent company, Kenyans flocked Rafiki branches to withdraw their money. This is despite Governor Njoroge promising that Rafiki is independent and strong.
TV personality Swaleh Mdoe was spotted at one of the branches, probably also withdrawing his life savings.
Via @Saddam_KE
