Posted 3/4/2024, 4:00:00 AM
State-Guaranteed Debt Jumps Sh13B in 6 Months, Mostly for Kenya Airways and Infrastructure Projects
- State-guaranteed debt rose by Sh13bn in 6 months to Dec 2023 to Sh183bn, due to weakening of Kenyan shilling
- Debt taken by 3 state firms - Kenya Airways (50.4% of total), Kenya Electricity Generating Co, and Kenya Ports Authority
- Kenya Airways defaulted on part of its debt; govt now repaying it
- Kenya Ports Authority owes Sh34bn for port development projects
- KenGen owes Sh16bn for geothermal power plants
