• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Wednesday, March 3, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

China Delays Kenya’s Ksh 27B Debt Repayment

Mwakaneno GakwelibyMwakaneno Gakweli
January 20, 2021
in Kenyan News, Public Policy
Reading Time: 2 min
Kenya's first SGR debt installment was due on Thursday

China has postponed debt repayment for Ksh 27 billion ($245 million) due in the first six months of 2020. Treasury CS Ukur Yattani confirmed the agreement to defer the debt, whose first semi-annual payment date was Thursday, January 21 on a Spice FM interview.

“We are also happy to announce our that our engagement with China where we hold about Ksh 27 billion which was due for payment between now and June, we now not going to pay immediately but we are going to pay in the future,” said the Treasury CS.

CS Yatani: The decision by China and the Paris Club of creditors to offer Kenya a loan repayment break is testament that Kenya is not a high risk debtor. #TheSituationRoom .@BaloziYatani .@EricLatiff .@nduokoh .@ctmuga .@GikonyoCiru .@KeTreasury .@Planning_Ke pic.twitter.com/QUjYJo2R2o

— SpiceFM (@SpiceFMKE) January 20, 2021

Yattani says the deferment will give Kenya the liquidity it desires to honour its other obligations, such as financing the national and country governments.

ADVERTISEMENT

China is by far Kenya’s biggest bilateral lender, constituting up to 21% of the country’s external debt by June 2020.

The news comes only days after the Paris Club suspended loan repayments due between January and June 2021 for four years, estimated at close to Ksh 33 billion.

Kenya is pursuing waivers for approximately KSh 40.6 billion in debt from G20 countries. However, the government will not seek repayment suspension from multilateral and commercial lenders to safeguard the countries sovereign rating and access to international financial markets.

Kenya was set to start paying its Nairobi- Naivasha Standard Gauge Railway loan in 30 instalments between January 21, 2021, and July 21, 2035, with an interest rate of 3% above the London Interbank Offered Rate (Libor).

READ ALSO: Kenya Eyes Over KSh 80B Debt Service Suspension After Paris Club’s Approval



Hisa App
Previous Post

Foreign Investors Pull KSh28.6 Billion from NSE in 2020

Next Post

SMEs to cushion against pandemic as banks rush to the rescue

Related Posts

Central Bank of Kenya (CBK) Governor Dr Patrick Njoroge

Central Bank to tighten the noose on predatory mobile money lenders

March 2, 2021
Britam Announces Organisational Restructure Targeting Executive Team

Britam Announces Organisational Restructure Targeting Executive Team

March 1, 2021

Astral Aviation, Kenyan Carrier eyes Middle East Cargo business

March 1, 2021

Kenya’s February Inflation Rises to Nine-Month High

March 1, 2021

President Uhuru Kenyatta Appointed EAC Chair

March 1, 2021

Prices at Tea Auction Increase, Hit $1.97 per Kg

March 1, 2021

The Baobab Weekly

February 28, 2021

Carbacid Offer to acquire BOC Kenya shares Opens

February 27, 2021
Load More
Next Post
SMEs Kenya

SMEs to cushion against pandemic as banks rush to the rescue

Follow Us

  • 7.1k Fans
  • 113.6k Followers
  • 2.4k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Gamestop

Can the Gamestop Situation Happen in Kenya?

February 21, 2021
Hisa App

Announcing Hisa App Public Beta Launch

February 20, 2021
Absa Kenya CEO Jeremy Awori

Absa Marks One Year Since Transition, Commits KSh1.6 Billion into Digital Products

February 11, 2021
NSE Derivatives

How To Make Money Trading Derivatives In Kenya

February 9, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?