Nairobi — The government is set to take over effective control of the national carrier Kenya Airways by raising its stake to 48 percent of the ordinary shares in the airlines as its capital optimization plan takes effect.
This is through the conversion of its loans to KQ amounting to Sh24 billion (excluding interest accrued) and sovereign contingent guarantees worth Sh77 billion to 19 percent of the ordinary shares resulting in the increase of the government shareholding from the current 29 percent to 48 percent of the ordinary shares.
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