The Online Kenyan Logo

The Online Kenyan

K
Originally published by Kenyans
📰 Read Full Article
top
October 21, 2025
3h ago

Ethiopia Takes After Kenya, Begins Process to Ditch Dollar for Chinese Yuan

Ethiopia Takes After Kenya, Begins Process to Ditch Dollar for Chinese Yuan

Kenya converted its USD5 billion loan to Chinese Yuan in October, a move that Ethiopia is eager to emulate...

✨ Key Highlights

Following Kenya's successful conversion of its Standard Gauge Railway (SGR) loan to the Chinese yuan, Ethiopia is now in discussions with Chinese authorities to follow suit. This move aims to reduce financing costs and strengthen bilateral trade.

  • Ethiopia is in early-stage discussions to convert part of its Ksh695.23 billion (USD5.38 billion) debt into yuan-denominated loans.
  • Governor of the National Bank of Ethiopia, Eyob Tekalign, confirmed discussions took place in Beijing with the Export-Import Bank of China and the People’s Bank of China.
  • Kenya previously converted its Ksh646.15 billion (USD5 billion) loan to China from dollars to the yuan in October, saving an estimated Ksh27.78 billion (USD215 million) annually in interest payments.

Continue Reading

Read the complete article from Kenyans

📰 Read Full Article

Related News

Kenya Dumps US Dollar for Chinese Yuan in Move to Cut Costs
top1w ago

Kenya Dumps US Dollar for Chinese Yuan in Move to Cut Costs

Kenya has officially switched from repaying its Standard Gauge Railway (SGR) loan to China in US Dollars to the Chinese Yuan, a move aimed at reducing costs and strengthening the local currency. This conversion of the Ksh646.15 billion (USD5 billion) loan is expected to save the country significant funds annually.

K
Kenyans
📰 Read Full Story
Kenya looks to China's duty-free access after Agoa pact expires
2w ago

Kenya looks to China's duty-free access after Agoa pact expires

China has pledged to work with Kenya to implement zero-tariff trade treatment, offering a new potential market for Kenyan exporters. This commitment comes as uncertainty surrounds the future of Kenya's trade pact with the United States, known as Agoa.

T
The Standard Business
📰 Read Full Story
WADA clears Kenya, rules out doping ban after compliance progress
Video

WADA clears Kenya, rules out doping ban after compliance progress

N
NTV Kenya (Youtube)
2w ago
Tanzania drops business prohibition for Kenyans following talks
top2w ago

Tanzania drops business prohibition for Kenyans following talks

Tanzania has dropped its prohibition on business activities for Kenyans that were previously reserved for locals, following bilateral talks between officials from both nations. The Business Licensing (Prohibition of Business Activities for Non-Citizens) Order, 2025, introduced in July, had caused significant concern among the Kenyan business community.

C
Capital News
📰 Read Full Story