Country: Kenya
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China’s Role in Africa’s Economic Transformation
Over the past 20 years China has played a pivotal, arguably indispensable role in Africa's economic development. China is by far Africa's largest bilateral trading partner, a major source of foreign investment and a vital player in helping Africa to close ...
Forget About Repayment Holidays, Kenya Wants Its Creditors (Ahem… China) To Cancel Some of Its Debts
The Kenyan Treasury is reportedly considering a new plan to approach its creditors to ask for outright cancellation of some of its debt, according to a report in Business Daily. Although a final decision has yet to be made, the Treasury is apparently considering ...
Kenya Treasury Secretary: “We Don’t Want to Give the Impression We Are Straining in Any Way”
The alarming headlines in today's Kenyan newspapers about the country's apparent inability to repay some of its debts contrasts sharply with the message conveyed by Cabinet Secretary for National Treasury Ukur Yatani in an interview with Bloomberg's Africa bureau chief David Malingha:
Allianz Research: Africa, Americas Had Better Brace for a “China-Less Recovery”
China is turning inwards and will slow its economic engagement in emerging markets in Africa and Latin America in the post-COVID-19-era, according to new analysis from the research arm of the German financial services giant Allianz. The report ...
Many Kenyans Surprised and Somewhat Perturbed That the Chinese Contractor Building the Nairobi Expressway is Going to Make a LOT of Money
The China Road and Bridge Corporation (CRBC), a Chinese state-owned construction company, is forecast to earn almost a billion dollars in profits over the 27 years that it will operate the new Nairobi Expressway that's now under construction. Details of the ...
The Case For Kenya’s Embattled Chinese-Financed Standard Gauge Railway
Critics of Kenya's multi-billion-dollar Standard Gauge Railway (SGR) definitely have the upper hand these days as the railway sinks deeper into debt. But George Sunguh, managing editor of African Ports Review, argued today in Business Daily that the skeptics are wrong.
China’s Role in East Africa’s Technology Stack
The technology stack, either in a company or a country, is comprised of the different technology layers that together form a digital communications ecosystem. And in places like East Africa, Chinese technology is indispensable up and down the stack -- everything ...
Passenger Traffic’s Up on Kenya’s New SGR But Will It Be Enough to Save the Embattled Railway?
Travelers are making their way back to Kenya's Standard Gauge Railways, especially the line between Nairobi and the port city of Mombasa, according to new data published by the Kenya Railways Corporation (KRC). 43,235 people took the Mombasa ...
Kenya’s State-Run Companies Buckling Under Too Much Debt
Three of Kenya's largest state-backed enterprises are showing signs of significant distress amid mounting debts, declining revenues, and a weakening currency. Chinese loans play a critical role in two of the firms, Kenya Railways Corporation and Kenya Power, while the third, Kenya Airways, does not appear to ...
A Pair of Chinese Provinces Move to Boost Ties With Kenya, Rwanda
One of the big misperceptions about China's economic engagement in Africa is that the central government in Beijing and its state-owned enterprises are the only Chinese actors on the continent. A pair of announcements this week highlight the large and growing role that Chinese provinces play in ...
It’s Long Been Suspected That Few People in Africa Actually Consume Chinese Media, Now There’s Research to Prove It
Chinese media outlets have been steadily expanding in Africa over the past ten years. Beijing has spent millions to build new production facilities, hire hundreds of local and international staff, and spent big on content distribution deals across the continent. But ...
Latest World Bank Debt Report Prompts Renewed Concern About Kenya, Ethiopia
Journalists and analyst have been poring through the World Bank's latest report on global debt that was published last month. Two African countries in particular, Kenya and Ethiopia, stand out. The report examined external debt accumulation among ...