Kenya’s big SGR dream begins to fizzle out as losses mount
A standard gauge railway cargo train departs from Mombasa port on May 30, 2019. The SGR project is yet to achieve profitability. PHOTO | KEVIN ODIT | NATION MEDIA GROUP
What you need to know:
Kenya revised downwards earnings from the SGR in the first full year of operations by 44 per cent to KSh5.7 billion from the previously reported Sh10.6 billion.
It generated KSh4 billion last year against the initial announcement of KSh8.72 billion, almost a 50 per cent adjustment.
Kenya’s Sh81.67 billion debt to Beijing will account for a third of the KSh270 billion debt that will be due to foreign lenders in the 2019/20 financial year.
