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Kenya: The Big Rail Dream Begins to Fizzle Out as Losses Mount
Nation, 31 May 2019
It was billed as the saviour of the choking Mombasa port traffic. Read more »
Kenya's Big Rail Dream Begins to Fizzle Out as Losses Mount
Eighteen months down the line, with a string of lost business and livelihoods, the standard gauge railway cargo haulage continues to traverse the over 400-kilometre Nairobi-Mombasa stretch with each trip raking up losses. The poor financial performance of standard gauge railway comes even as principal payments to Exim Bank of China, the main SGR financier, will rise six-fold to nearly U.S.$340 million in the next financial year starting end of June, 2019, writes Allan Olingo for The Nation.
A standard gauge railway cargo train departs from Mombasa port on May 30, 2019.
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