Kenya Railways defaulted on a $1.3 billion loan from China Exim Bank used for the construction of the Mombasa-Naivasha Standard Gauge Railway (SGR). A report from the National Treasury reveals that the default will cost Kenya Railways penalties estimated at $12.4 million, incurred as a 1% fine on the outstanding arrears. The country had initially…...
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Kenya Railways has defaulted on a $1.3 billion loan from China Exim Bank
Muthoga Mungania
Muthoga Mungania is an award-winning, Nairobi-based multimedia journalist covering economic, corporate, financial, tech and investor relations matters among other business stories. Muthoga is seasoned in data and market analysis, corporate finance, and economic trends, making them a trusted voice in East African business journalism, communications and consultancy.
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