Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines
Road/Rail Freight

Kenya wants $1bn from China for road development

09 Oct 2023 - by Staff reporter
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

Kenya will request a further $1-billion loan from China to complete road projects that have been stalled, according to the country’s deputy president, Rigathi Gachahua.

He announced on Friday that Kenyan President William Ruto would make the request when he travels to Beijing later this month on an official visit. Ruto will also ask for a longer repayment period for the $8bn already owed to the Chinese.

Ruto's plan is a marked shift in his stance, with the coalition previously criticising his predecessor Uhuru Kenyatta's borrowing spree from China.

Kenyatta had used the Chinese loans to fund infrastructure projects, such as the Nairobi expressway, but many of these projects had since stalled as contractors had abandoned them due to unpaid bills, he said. 

"If we get $1bn we will be able to give these contractors the money they are owed so they can return and, even as we pay the debt, the roads are completed," Gachahua said.

The deputy said Ruto would ask Chinese officials if Kenya could be given more time to repay its debts. He gave no indication of what the existing terms are or to what extent the East African country had defaulted on repayments.

Kenya is one of many African countries for China's Belt and Road Initiative, an ambitious project launched in 2013 by President Xi Jinping to extend Chinese geopolitical and economic influence through a global infrastructure development push. 

The Kenyan government is spending almost half of its revenue to repay debts that are falling due, official data shows.

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

Carriers face capacity planning nightmare

Air Freight

The de minimis change is going to disrupt the market, and we’ll see its impact this month. – Xeneta.

05 May 2025
0 Comments

Australia launches world’s largest electric ship

Sea Freight

At 130 metres in length, Hull 096 is the largest electric vessel of its kind ever built.

05 May 2025
0 Comments

Naval drones cause havoc at Black Sea port

Logistics

The strike destroyed a Russian Su-30 fighter jet mid-air in a historic first for UAVs.

05 May 2025
0 Comments

Ukrainian authorities detain Tanzania-flagged cargo ship

Sea Freight

The vessel was intercepted near the Port of Reni as it was reportedly en route to the Turkish port of Gemlik.

05 May 2025
0 Comments

Multi-purpose terminal operator for Port of Durban sought

Logistics

The brownfield development site spans 145 hectares in the Maydon Wharf precinct of the port.

05 May 2025
0 Comments

Maputo port’s $165m terminal expansion under way

Sea Freight

The container terminal will be able to accommodate post-Panamax vessels of up to 366 metres in length.

 

02 May 2025
0 Comments

Strong figures confirm Mozambique’s economic ascendancy

Africa

Last year, growth decreased to 5%, mainly because of political unrest following disputed elections.

02 May 2025
0 Comments

DP World ships vinyl from high-tech UK warehouse

International

Robots move independently across the facility after receiving worker input in a blend of automation and manual precision.

02 May 2025
0 Comments

Trump tariffs cast shadow over SA’s soybean exports

Africa

Increased competition in third markets seems a certainty as US producers seek alternative destinations.

02 May 2025
0 Comments

South African beef exports up 30% y-o-y

Africa

For this export momentum to continue, we must intensify our efforts to control animal diseases. – Wandile Sihlobo.

02 May 2025
0 Comments

DSV completes acquisition of Schenker

Logistics

The acquisition is valued at approximately EUR 14.3 billion.

02 May 2025
0 Comments

Container market outlook bleaker for rest of 2025

Logistics

Complicating matters is overcapacity in the liner trade because of a surge in new vessel deliveries.

02 May 2025
0 Comments
  • More

FeatureClick to view

Sea Freight May 2025

Border Beat

The N4 Maputo Corridor crossing – congestion, crime and potholes
10 minutes ago
Fuel-crime curbing causes tanker build-up at Moz border
08 May 2025
Border police turn the tide on illegal crossings
29 Apr 2025
More

Featured Jobs

New

Sales & Marketing Assistant

Lee Botti & Associates
Johannesburg - North
12 May

Transport Clerk (DBN)

Tiger Recruitment
Durban (New Germany)
09 May

Operations’ Coordinator

Brinks Security PTY LTD
Johannesburg
09 May
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us