China could seize Mombasa port over SGR loan
Posted: 15 Mar 2021, 06:23
China could seize Mombasa port over Sh364bn SGR loan
The port of Mombasa could be under the control of the Chinese if the government defaults on the Sh364 billion SGR loan. The Auditor General reveals that the assets of Kenya Ports Authority were used as collateral for the Sh363.96 billion Standard Gauge Railway loan. In a report tabled in Parliament, the Auditor General reveals officially for the first time that Kenya waived its immunity in the event of a legal dispute linked to default of servicing the loan...