Tag: Standard Gauge Railway
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Kenya Cuts Dollar Debt After Converting Chinese Loans to Yuan
The Kenyan government is moving quickly to diversify its debt portfolio to reduce its reliance on dollar-denominated loans, with the total amount of outstanding USD debt falling 8.5% year-on-year to just 53.2%, according to new National Treasury data. A big reason ...
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Construction Restarts on Kenya, China’s Standard Gauge Railway
Construction has resumed on Kenya’s Standard Gauge Railway, following a long pause due to debt woes. The Kenyan government has announced a new agreement with Chinese financiers and contractors that will see the completion of the two final phases of the landmark cross-frontier railway system. ...
Kenya, Uganda Presidents to Meet for Rail Link
The presidents of Kenya and Uganda were set to meet near their shared border Saturday to mark the multi-billion-dollar, long-delayed extension of a Chinese-built railway that has left Kenya heavily in debt. The Standard Gauge Railway, built from 2013 to 2019, ...
Kenya Revives Railway Extension After 6-Year Stall by China Funding Cuts
By Duncan Miriri Kenya will on Thursday restart a multi-billion-dollar railway extension that was financed through revenue securitization, reviving a project that has been stalled for over six years after initial lending from Beijing dried up. The ...
Kenya’s Chinese Debt Swap Comes With a Hidden Currency Risk
The Kenyan Treasury last month announced a breakthrough in its years-long effort to restructure billions of dollars still owed to the China Exim Bank that were used to build the Standard Gauge Railway. The two ...
An aerial view of iron ore stockpiles at the SimFer mining complex in the Simandou mountain range in the Nzerekore region, on September 2, 2025. The Guinean iron ore project tests China’s ‘transition finance’ credibility. Photo / PATRICK MEINHARDT / AFP
By Deng Yaowen In January 2024, China Baowu Steel Group issued the first tranche of a bond that raised CNY 10 billion ($1.45 billion) on the Shanghai Stock Exchange. Media reports described it as one of the largest corporate ...
Kenya Cuts Dollar Debt After Converting Chinese Loans to Yuan
The Kenyan government is moving quickly to diversify its debt portfolio to reduce its reliance on dollar-denominated loans, with the total amount of outstanding USD debt falling 8.5% year-on-year to just 53.2%, according to new National Treasury data. A big reason ...
Construction Restarts on Kenya, China’s Standard Gauge Railway
Construction has resumed on Kenya’s Standard Gauge Railway, following a long pause due to debt woes. The Kenyan government has announced a new agreement with Chinese financiers and contractors that will see the completion of the two final phases of the landmark cross-frontier railway system. ...
Kenya, Uganda Presidents to Meet for Rail Link
The presidents of Kenya and Uganda were set to meet near their shared border Saturday to mark the multi-billion-dollar, long-delayed extension of a Chinese-built railway that has left Kenya heavily in debt. The Standard Gauge Railway, built from 2013 to 2019, ...
Kenya Revives Railway Extension After 6-Year Stall by China Funding Cuts
By Duncan Miriri Kenya will on Thursday restart a multi-billion-dollar railway extension that was financed through revenue securitization, reviving a project that has been stalled for over six years after initial lending from Beijing dried up. The ...
Kenya’s Chinese Debt Swap Comes With a Hidden Currency Risk
The Kenyan Treasury last month announced a breakthrough in its years-long effort to restructure billions of dollars still owed to the China Exim Bank that were used to build the Standard Gauge Railway. The two ...
Kenya’s China Debt Deal Challenges Old Narratives
Kenya and China have reached a groundbreaking agreement to restructure $3.5 billion in railway loans, converting them from U.S. dollars into Chinese yuan. The move could save Kenya $215 million in debt servicing costs and marks the first time an African ...
After Kenya Secures Landmark Railway Debt Deal With China, Indonesia Eyes a Similar Renegotiation
Indonesia's Investment Minister Rosan Roeslani confirmed on Wednesday that talks are underway with Chinese creditors to restructure the $7.3 billion of debt owed by the Sino-Indonesian joint venture that operates the Whoosh high-speed railway. Although the train has been popular with travelers,
Kenya Swaps $3.5 Billion in Chinese Railway Debt From Dollars to Yuan, Cutting Costs and Boosting Beijing’s RMB Push
Kenya and China have agreed to restructure the East African country's loan portfolio by converting an estimated $3.5 billion of outstanding debts from U.S. dollars into Chinese yuan. The amount is believed to be the remainder of more than $6 billion of ...
Kenya Caught Uncomfortably Between the U.S. and China
The Kenyan government is under mounting pressure from the United States over its close ties with China. Influential lawmakers in Washington are furious over comments made by President William Ruto during a visit to Beijing earlier this year, where he said ...
Kenya in Talks with China to Convert Debt to Yuan
Kenya’s Treasury Secretary John Mbadi said his government is in talks with Chinese counterparts to convert the denomination of its debt to China from U.S. dollars to Chinese renminbi. “The moment we move from the U.S. dollar to the renminbi, automatically, ...
Chinese Company Leads Africa’s First Cross-Border Standard Gauge Railway Expansion
China Railway Group Limited (CREC) is heading the construction of a new transfrontier rail line between Tanzania and Burundi. Construction of the Uvinza–Musongati line was officially inaugurated during a ceremony on Saturday. The 1,435-kilometer electrified line will provide landlocked Burundi ...
Standard Bank Becomes First African Bank to Offer China’s Cross-Border Interbank Payment System
China's alternative to the SWIFT international payment network is now available in Africa, following the announcement by Standard Bank, the continent's largest bank in terms of assets, as the first institution to offer the Cross-Border Interbank Payment System (CIPS). This is ...