“I found that, contrary to the government’s promises of prosperity, Kenya’s mega-railway is heading down the wrong track of development. My research shows that privileged groups, with sufficient access to economic resources, are experiencing several benefits.”….
By xinhuanet.com Kenya’s standard gauge railway (SGR) has offered investors from across the world a gateway to several countries in East and Central Africa, a trade lobby official said on Wednesday. Richard Ngatia, the President of the Kenya National Chamber of Commerce and Industry noted that businesses that ship goods through […]
By Maria Adele Carrai (The Washington Post) After extensive negotiations, the Chinese government in January agreed to let Kenya defer $245 million in repayments on loans from state-owned China Exim Bank. The reprieve was likely a relief to Kenya’s government, which borrowed over $4.7 billion to build the 298-mile Standard Gauge Railway project connecting the port of […]
Business Daily: The Kenyan Treasury has disclosed that the $1.482 billion (Sh162 billion) debt from the Exim Bank of China that Kenya tapped in December 2015 has fallen due. The Treasury has disclosed that the $1.482 billion (Sh162 billion) debt from the Exim Bank of China that Kenya tapped in […]
Kenya should renegotiate the $4.5bn loan it agreed with China to build the $3.2bn standard gauge railway between Mombasa and Nairobi, and cut the operating cost of the line by half, the country’s parliamentary transport committee has concluded (PDF). Committee chair David Pkosing said “the entire loan framework should also be renegotiated” […]