Tag: Standard Gauge Railway
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Kenya to Take Control of Some SGR Responsibilities Ahead of Schedule in an Effort to Reduce Debt Burden
Kenya Railways (KR) and Afristar, a subsidiary of the state-owned China Road and Bridge Corporation, have agreed to transfer some of the responsibilities of operating the embattled Standard Gauge Railway years ahead of schedule as part of an effort to reduce the financial burden on ...
How Much Does Kenya Owe China to Build and Operate the Various SGR Lines?
It's not clear at this time if the decision to expedite the handover of some SGR responsibilities from Afristar to Kenya Railways is part of the ongoing debt restructuring talks that are purportedly underway between China and Kenya. Until now, there's ...
Kenya, China Agree to $245 Million Debt Deferral Deal
China and Kenya have agreed to a six-month debt repayment holiday worth $245 million. Treasury Secretary Ukur Yatani announced the deal during a radio interview on Wednesday when he said the deferral "will give us an opportunity and break on the kind of liquidity ...
China, Kenya Close to Reaching Debt Relief Deal
China and Kenya appear to be closing in on a debt restructuring arrangement just days before a major railway loan comes due. The Chinese embassy issued a vague statement on Monday that said both sides are holding "smooth" talks related to Kenya's debt servicing challenges. ...
Ambassador Zhou Pingjian: China’s Tried Its Best to Meet Kenya’s Request on Loans
The Nation's Senior Diplomatic Writer, Aggrey Mutambo, sat down with China's ambassador to Kenya for a wide-ranging interview that covered access to Chinese-made COVID-19 vaccines, next year's FOCAC summit in Dakar, and how Beijing will deal with Nairobi's difficulty in repaying its debts.
China, Debt and the Future of Kenya
The investigative series Africa Uncensored broadcast a riveting one-hour documentary on Kenyan national TV last night that explored the country's ballooning national debt. The program highlighted how, as Kenya's largest bilateral creditor owning an estimated 70% (or $6.2 billion) of its ...
Nigerians Share First Impressions of The New Chinese-Built Lagos to Ibadan Railway
Passengers have had a week to try out Nigeria's brand new Chinese-built standard gauge railway that links Lagos to Ibadan. The new service is operating on a limited schedule with just two trains a day but that'll expand to 16 daily departures shortly once construction of the ...
Africa’s Newest Chinese-Financed and Constructed Railway Begins Operating in Nigeria
The newest Chinese-built railway in Africa is now officially in service following a Tweet on Monday from the office of Nigerian President Muhammadu Buhari that launched the new Lagos to Ibadan line. The $1.59 billion standard gauge railway was
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.
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 ...
The Nested Tragedies of Kenya’s Standard Gauge Railway
Recently we've seen two new pieces of research on Kenya’s Standard Gauge Railway (SGR,) which make for fascinating – if depressing – reading. They show that the project was doomed from the start by corruption and bad dealing from ...
Why Kenya’s Standard Gauge Railway Was Doomed From the Start
Kenya's new multi-billion dollar standard gauge railway (SGR) was destined to fail even before it launched, argued Kenyan legal scholar Luis Franceschi in a new opinion column in the Nation newspaper. Franceschi joins a growing number of analysts who have long asserted that ...