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HomeDaily NewsWednesday, June 24, 2026Kenya's China loan revamp sparks wider interest in yuan switch, AidData says - June 2026
Business & Economy3 stories from 2 sources

Kenya's China loan revamp sparks wider interest in yuan switch, AidData says - June 2026

Kenya has successfully converted Chinese loans from US dollars to Chinese yuan to lower borrowing costs, generating significant interest from at least five other countries including Ethiopia, Mozambique, Zambia, Pakistan, and Indonesia, according to a study by AidData. The conversion represents a strategic financial move by Kenya to reduce its debt servicing costs. In a separate development related to Kenya's international financial arrangements, the government awarded a Sh154 billion contract to Chinese firm CRBC for JKIA expansion. However, a petition challenging the procurement process for this airport expansion has been filed, with the Attorney-General now seeking dismissal of the case in High Court.

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Wednesday 7:34 AMNation Business

Kenya’s China loan revamp sparks wider interest in yuan switch, AidData says

Kenya’s China loan revamp sparks wider interest in yuan switch, AidData says

Kenya's successful conversion of Chinese loans from US dollars to Chinese yuan to lower borrowing costs has generated significant interest from at least five other countries, including Ethiopia, Mozambique, Zambia, Pakistan, and Indonesia, according to a study by AidData.

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Key Highlights

Kenya's successful conversion of Chinese loans from US dollars to Chinese yuan to lower borrowing costs has generated significant interest from at least five other countries, including Ethiopia, Mozambique, Zambia, Pakistan, and Indonesia, according to a study by AidData.

  • Kenya reportedly saved $215 million (Sh27.8 billion) annually after converting three railway loans from US dollars to yuan with extended maturities and grace periods.
  • The move aligns with China Eximbank's strategy to promote the international use of the renminbi (yuan) in cross-border lending.
  • Ethiopia is identified as a prime candidate to benefit from similar debt restructuring, potentially saving between $169 million (Sh21.9 billion) and $778 million (Sh100.7 billion).
Tuesday 10:44 PMCapital BusinessFirst

Chinese firm CRBC wins Sh154bn JKIA upgrade contract

Chinese firm CRBC wins Sh154bn JKIA upgrade contract

The Kenyan government has awarded a significant contract for the expansion and modernization of Jomo Kenyatta International Airport (JKIA).

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Key Highlights

The Kenyan government has awarded a significant contract for the expansion and modernization of Jomo Kenyatta International Airport (JKIA).

  • The project is valued at Sh154.2 billion.
  • The contract was awarded to the Chinese firm China Road and Bridge Corporation (CRBC).
  • This agreement aims to increase the airport's annual passenger handling capacity from 7.5 million to 22 million.
Wednesday 11:00 AMCapital Business

State seeks dismissal of JKIA tender case

State seeks dismissal of JKIA tender case

The Kenyan government, through the Attorney-General, has asked the High Court to dismiss a petition challenging the procurement process for the expansion of Jomo Kenyatta International Airport (JKIA).

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Key Highlights

The Kenyan government, through the Attorney-General, has asked the High Court to dismiss a petition challenging the procurement process for the expansion of Jomo Kenyatta International Airport (JKIA).

  • The State argues the petition by COFEK was filed prematurely and bypassed established legal mechanisms.
  • The dispute centers around Tender No. SDAAD/OT/001/2025-2026 for the multi-billion-shilling project.
  • The government maintains the procurement process is ongoing and no contract has been awarded, dismissing COFEK's claims as based on speculation from media reports.
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