Why Kenya’s Foreign Loans Risk Stalling Ruto’s Mega Construction Projects

SGR extension is among the key projects that have lagged due to funding challenges, although the government appears to be soliciting funds elsewhere...

✨ Key Highlights

Kenya is facing a significant financial strain as it pays an annual Ksh129 billion to China for loans, coinciding with a sharp reduction in new lending from China to Africa. This shift threatens the financing of future mega-infrastructure projects.

Kenya now pays approximately Ksh129 billion (USD1 billion) annually to Chinese lenders, primarily for the Standard Gauge Railway (SGR).
Key entities involved are the Kenyan government and Chinese lenders.
Chinese lending to Africa has decreased by nearly 90 percent from its peak, with only about Ksh258 billion (USD2 billion) issued continent-wide in 2024, indicating a reversal from previous years of substantial financing.

Continue Reading

Read the complete article from Kenyans

📰 Read Full Article

Related News

Video

Hundreds stranded as floods block roads and disrupt travel in Mt. Elgon and Kitale-Lodwar

Citizen TV (Youtube)

3h ago

Video

Heavy rains expose Nairobi’s poor drainage and infrastructure failures

NTV Kenya (Youtube)

3h ago

top5h ago

Motorists Stuck for Hours as Heavy Rains Paralyze Roads, NTSA Issues Advisory

Heavy rains across Kenya have caused widespread traffic congestion and dangerous road conditions, prompting the National Transport and Safety Authority (NTSA) to issue urgent safety guidelines.

Kenyans

📰 Read Full Story

top7h ago

Kenya-India technical training links boost public service reform

Kenya's public service reforms are being significantly bolstered by technical training initiatives with India. The Indian Technical and Economic Cooperation (ITEC) Programme celebrates over six decades of empowering Kenyan public servants.

The Standard