President Kenyatta’s administration is seeking another loan of Sh368 billion from China to complete the Standard Gauge Railway (SGR) line.
Kenya Railways Corporation acting Director Phillip Mahinga says negotiations between the countries on the multi-billion-shilling loan are ongoing and full details will be revealed later.
“We all know that the first phase of SGR from Mombasa to Nairobi cost Sh327 billion and the second phase Sh150 billion.”
“For phase 2B, negotiations between the two governments are on so I will not give any figure at the moment,” he adds.
Mahinga further says the government is seeking a financing system that will ensure the railway; passengers, goods, and equipment are secure during the 974km journey from Mombasa to Malaba.
“SGR trains move 6,000 people daily, and we are concerned about our operations and security of the equipment,” Mahinga says
“The movement of trains from Mombasa to western Kenya needs to be secure from terrorists and other challenges. We ask the Chinese government to support us in this area.”
China’s Chargé d’affaires Li Xuhang says the loan will be granted in form of concessional and hard loans.
Kenyan revenue, debt and…
Kenyan revenue, debt and payments should be a matter of public record. Does anyone know how to look up these records? It has been reported that 60% of the revenue goes towards loan payments and the rest towards wages. How much goes towards healthcare? I know some will state here that other countries have higher debts compared to their GDP but Kenyans and particularly Africans have always received raw deals courtesy of our very incompetent leaders… Lets not compare ourselves to America because without America and the west, China would have few places left to sell their stuff. Those two can not do without each other.
Someone like William Ruto is…
Someone like William Ruto is a psychopath.
The man has no conscience, so expecting him to “feel” anything is a waste of time.He feels nothing.
3/4 of the loan get stolen…
3/4 of the loan get stolen by the likes of Ruto etal and 1/4 goes to the intended projects. Then, they borrow again!
Of course they will go for…
Of course they will go for another SGR Loan.
They are psychopaths.
William Ruto and Uhuru Kenyatta are psychopaths.
They will never stop borrowing or stealing or lying.
William Ruto specifically has all the signs of a full blown psychopath.
Secession loading….
@mugikuyu every country…
@mugikuyu every country looks at its gdp when growing.So hautaki tuongee story za loans which americans owes china which stands to more than 7 trillion $$ n also usa owes more than 26trillions$$ to its partners worldwide but unataka kuconcentate negativity with kenya about kenyan loans??Japan have borrowed more than 200% of its gdp??Personally i encourage kenya to borrow for its infrastructure only n make sure hii pesa haiimbiwi juu thats the only way we will develop by roads expansion,railway,manufacturing industries,ports.This loans will pay itself in long run.We the blacks r somehow cursed juu we try to ran way to the west juu waneendelea yet they have borrowed to b where it is??We flys our kids to the west juu they have borrowed to invest in their education sector yet when our gavament struggle to do the same we talk negatively???Waafrica tuko na unjinga mwingi sana hata mwenye amesoma na phd/masters.Mr uhuru continue to borrow for infrastructure n this negative folks will thank you in 10 years the way they thank Kibaki build thika superhighway coz now we can see the benefit it has brot to kenyans.
Unlike US, the issue in…
Unlike US, the issue in Kenya is loan corruption! Why is it that the government can’t account where the entire money went to! Most projects money cannot be traced yet projects are hanging in balance. So these are NOT good debts.
Eish Mkenya, according to…
Eish Mkenya, according to the US Treasury Dept, The US owes around $22 trillion of which $1.4 trillion is owed to China. In the very least, use correct numbers to make a point.
Look at that face! eish!…
Look at that face! eish! That face says ignorance! The first railway is failing and he goes to borrow more! How stupid is that! Seven years and Zero accomplishment! Bure kabisa!
@Dada Diane: Umesema kweli…
@Dada Diane: Umesema kweli kabisa.
I agree with mkenya halisi…
I agree with mkenya halisi. Hii maendeleo ya west is from borrowing so why don’t we do the same. Let’s say gava should have put more focus on building factories so we can export finished products.
Ask yourself why r the west…
Ask yourself why r the west feeling the punch or bad when chinese r building roads,ports getting the biggest infrastructure deals n after 50 damm years this western nation did nothing build nothing juu their aim from day one was to make Africa more poorer so they see find a place to control n divide???No wonder with chinese in Africa they r peeing themselves juu the biggest deals zinapewa china n they r delivering,If u guys get time read about china n india the way they use to b rich more than any other countries many many years ago n the west weren’t happy they made sure india/china economy flops n they forced them to trade with them.Today the two countries isn’t listening to the west juu what they did to them???For me again uhuru has my support to continue borrowing for infrastructure so our diaspora runways can return home n help build our country together instead of enslaving themselves in the west.