This month has marked a major milestone in Kenya’s relationship with China’s bank managers.
President Uhuru Kenyatta had loan talks with China’s president in Beijing.
This made the Kenyan debt stock to cross to Ksh 1 trillion marks.
Therefore Kenya expects to have over 230 billion loans to meet Kenyatta’s big four agenda.
Uhuru had gone to attend the 2018 China-Africa summit in Beijing.
He was able to secure some grants through public-private partnership deals.
Kenya had earlier secured loans from China through a government-to-government partnership.
However, this time around, president Uhuru used a different approach
by using the public-private investment together with Chinese firms.
Uhuru said that through this program, Chinese private companies in
Kenyan government roads annuity program would construct two main
highways in North Eastern. Most Kenyans are worried about this ordeal
as they think it will cause an increment in tax.
Kenya is one of the three biggest borrowers of money from China.
Mr. Kamau Thuge, Kenya’s National Treasury principal secretary,
said to the Standard Media group that the government was
going to create an enabling environment for private investors
to set up great projects on a build operate and transfer structure.
The investor would also earn assets such as roads.