Imperial Bank (In Liquidation) has assumed management of Salute Holdings, a leading Apple-authorised distributor in East Africa, as part of ongoing efforts to recover billions of shillings in unpaid loans.
The takeover was announced by Kamal Anantroy Bhatt, the bank's court-appointed receiver manager, who was appointed to oversee Salute Holdings on May 5, 2026. Mr Bhatt will now direct all business operations and assets of the Nairobi-based company.
Salute Holdings is best known for its flagship retail chain, iWorld, which sells a wide range of Apple products including iPhones, iPads, Macs, Apple Watches, AirPods, and accessories. The company also offers Apple-certified repairs and services.
Beyond Apple products, iWorld stocks premium accessories from brands such as Belkin, Promate, and Beats. These include wireless chargers, power banks, Bluetooth speakers, headphones, and smartwatches.
Salute Holdings also operates SportsPlanet, a sports and lifestyle retail chain carrying international brands like Nike, Adidas, and Puma, as well as Sensations, a lifestyle retailer specialising in personal electronics and smart gadgets.
The receivership follows similar actions taken against Sparetech Trading Company and Mawa Dairy Farm, as Imperial Bank intensifies its asset recovery strategy.
Imperial Bank was placed under receivership by the Kenya Deposit Insurance Corporation (KDIC) in October 2015 after a multibillion-shilling fraud was uncovered. Since then, the bank has operated under government supervision, with some assets and liabilities transferred to KCB Bank Kenya.
Under the Insolvency Act, Salute Holdings’ current directors, including founder Vivek Mehra, have been stripped of authority over the company’s affairs. Mr Bhatt has warned that any dealings with the company’s assets without his written consent will be illegal and subject to legal action.
Creditors have been given 30 days to submit claims, and the directors are required to provide a statement of affairs within 12 days of the notice.
