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Kenya: Murkomen Says Construction of Roads Stalled as Contractors Were Not Being Paid
Capital FM, 19 October 2022
The Cabinet Secretary nominee for Transport and Public works Kipchumba Murkomen says construction of many roads have stalled because contractors were not being paid. Read more »
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Kenya: Transport CS Nominee Murkomen Proposes a Camera-Backed e-Police System
Capital FM, 19 October 2022
Transport and Public Works Cabinet Secretary nominee Kipchumba Murkomen says he will work with various agencies to set up a camera -backed e-police system. Read more »
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Kenya: Murkomen Pokes Holes Into Jubilee Govt Pact With China on Expressway Construction
Capital FM, 19 October 2022
The nominee for Transport and Public Works Kipchumba Murkomen has poked holes on the contractual agreement between the government under the Jubilee regime and China in the… Read more »
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Kenya: Murkomen Pledges to Boost Technical Infrastructure at Border Points to Reduce Congestion
Capital FM, 19 October 2022
The nominee for Transport and Public Works Kipchumba Murkomen has pledged to boost the technological infrastructure along the border points to ease the congestion of trucks along… Read more »
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Kenya: Transport CS Nominee Kipchumba Murkomen is Worth Sh550 Million
Capital FM, 19 October 2022
Transport and Public Works Cabinet Secretary nominee Kipchumba Murkomen says he is worth approximately Sh550 million. Read more »
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Kenya: Kenya Wants to Renegotiate Loans for Chinese-Built Railway
VOA, 19 October 2022
Kenya wants to renegotiate a multibillion-dollar loan from China that was used to build a major railway. Read more »
Kenya Wants to Relook Rail Network Deal With China
Kenya wants to renegotiate a multibillion-dollar loan from China that was used to build a major railway.
Transport Minister Kipchumba Murkomen, told lawmakers that Kenya is up to date on its payments but cannot continue with the current 20-year schedule.
Answering questions from a parliamentary committee, Murkomen said the country will have to ask for an extended period to pay, especially in regard to the loans used to build what is known as the Standard Gauge Railway.
Kenya borrowed U.S.$5 billion to build the railway line from the port of Mombasa to the city of Naivasha, west of Nairobi.
The railway was opened for business in 2017 and the government forced businesses to transport goods by rail to help repay the loan.
Kenya's previous government is accused of excessive borrowing to finance development projects, which has also increased corruption. China also financed a 27-kilometre expressway in Nairobi, costing U.S.$734 million.
InFocus
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President Uhuru Kenyatta has urged the next administration to use debt - emphasising its importance - as a key accelerator of economic development. Kenyatta, whil Read more »
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Experts have warned that the government is likely to breach the U.S.$80 billion debt ceiling by early 2022, if the rate at which it is borrowing to support its budget and finance ... Read more »
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U.S.$8 billion of Kenya's Budget will go to servicing debt in the 2020/21 financial year. The Treasury has also shrunk Deputy President William Ruto's total allocation by 40% in ... Read more »
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Kenya's debt bill has shocked parliament, which has, for the past eight years, acted as cheerleader for the National Treasury's borrowing spree that has never been seen in any East ... Read more »
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President Uhuru Kenyatta has said that the government has opened talks with external lenders to suspend debt during the Covid-19 crisis, as the shilling depreciates to its lowest ... Read more »
