Country: Kenya
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Troubling Economic Forces Are Converging in Kenya
The war in Ukraine is exacerbating Kenya's worsening financial crisis by contributing to higher inflation and adding more pressure to the already embattled shilling. In fact, several potentially dangerous economic forces appear to be converging in Kenya. This interplay will make life more difficult for both policymakers ...
Wu Ashun Becomes First Chinese to Win Kenya Open Golf Tournament
Chinese professional golfer Wu Ashun took home the top prize at Sunday's Magical Kenya Open in Nairobi on Sunday, becoming the first Chinese, and the first person of Asian descent, to win the tournament. But it wasn't an easy win. He ...
Did Vaccine Diplomacy Sway Africa’s Ukraine Vote?
Amid the global discussion about why 35 Global South countries avoided censuring Russia’s invasion of Ukraine at the United Nations, Michael Bociurkiw, a senior non-resident fellow at the Atlantic Council, felt the need to tweet. He pointed out that some of the ...
New Complaint Adds to Kenya’s Chinese Contractor Woes
A Chinese contractor has slapped the Kenya Electricity Transmission Company (Ketraco) with a bill for 1.1 billion Kenyan shillings ($9.6 million) in interest for delayed payments. The contractor, Nari-PCGE, complained to the Kenyan Parliament that it hadn’t been paid for its work on the 428-kilometer Loiyangalani-Suswa transmission line. ...
Comparing Chinese Rail Projects in Kenya and Indonesia
China is building rail lines all over the Global South. But how does Africa's experience with Chinese contractors compare with that of Southeast Asian countries? The South African Institute of International Affairs recently published a paper comparing the environmental, ...
Kenya’s Weakening Currency is Pushing Up the Cost of Imports and Debt Servicing Costs
The Kenyan shilling is rapidly devaluing against the dollar, breaking a record low of 114 this week and prompting fears that a potentially dangerous economic cycle is gaining momentum. There's growing concern that Kenya is spending more and more ...
Calls Growing Louder in Kenya to Balance Lopsided Trade With China
All week, numbers have been trickling out of Kenya's National Bureau of Statistics that depict a dangerously lopsided economic relationship with China. The latest data show that last Kenyans $3.9 billion worth of products from China but exported just $131 million in return.
China Donates Surveillance System and Vehicles to Help Protect Kenya’s Standard Gauge Railway
China's Ambassador to Kenya, Zhou Pingjiang, used a ceremonial outsized key to mark the opening of a new Chinese-financed security surveillance center for the Standard Gauge Railway. It was not specified what kind of surveillance technology and from what manufacturer was ...
World Bank Overtakes China as Kenya’s Creditor of Choice
There's been a major shift in Kenya's borrowing patterns over the past three years marked by a sharp increase in loans from the World Bank while lending from China has slowed considerably, according to new Treasury data. ...
China’s Relatively Small Share of Kenya’s Total Public Debt
Kenya's total public debt now stands at $72.2 billion with $6.92 billion or just 9% owed to Chinese creditors, according to new figures from the Treasury in Nairobi. When measured against Kenya's total external, China's share ...
Chinese Phone Brands Competing at the High End of the Market in Kenya
One week after the Shenzhen-based African mobile phone giant Transsion announced that its TECNO and Infinix brands would both have 5G devices available in Kenya before the end of the year, Chinese rival Oppo launched its 5G smartphone with the debut of V23 5G.
It Can Be Hard to Tell If Kenya Is Managing Its Debts Well or If It’s In Danger of Debt Distress… Or Both
Confusing, even contradictory messages have been coming out over the past week about Kenya's debt sustainability. On the one hand, the Treasury is reporting that debt servicing obligations have fallen by $634 million, including to the China Exim Bank, due to deferrals and repayments ...