GREAT VISIONAIRE
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- Sep 28, 2012
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Nairobi — Kenya ranks as the third most indebted country to China in Africa in the period between 2000 to 2017 according to China Africa Research Initiative data.
Though the borrowing decreased significantly in 2017 compared to the years 2014 to 2016 Kenya's borrowing from China currently stood at Sh980 billion as at the end of 2017.
Only Angola and Ethiopia, who owe China Sh4.28 trillion and Sh1.37 trillion in the period under the review, are ahead of Kenya.
Standard Gauge Railway and Road network expansion was the main use of the debt borrowed from China.
A huge chunk of Kenya's loan was borrowed in 2014 at Sh370 billion as Kenya began building the first Phase of the Standard Gauge Railway (SGR) line from Mombasa to Nairobi that cost Sh327 billion.
The following year, the country borrowed another Sh257 billion while in 2016 the country borrowed Sh109.5 billion from China.
However, in 2017, the country borrowed about Sh64 billion.
"Other top ten debtors of China from Africa include Republic of Congo (Sh742 billion), Sudan (Sh649 billion), Zambia (Sh637 billion), Cameroon (Sh556, billion), Nigeria (Sh483 billion) Ghana (Sh349 billion), and DRC (Sh343 billion)," the report indicates.
Kenya Holds Third Highest Chinese Debt in Africa
Though the borrowing decreased significantly in 2017 compared to the years 2014 to 2016 Kenya's borrowing from China currently stood at Sh980 billion as at the end of 2017.
Only Angola and Ethiopia, who owe China Sh4.28 trillion and Sh1.37 trillion in the period under the review, are ahead of Kenya.
Standard Gauge Railway and Road network expansion was the main use of the debt borrowed from China.
A huge chunk of Kenya's loan was borrowed in 2014 at Sh370 billion as Kenya began building the first Phase of the Standard Gauge Railway (SGR) line from Mombasa to Nairobi that cost Sh327 billion.
The following year, the country borrowed another Sh257 billion while in 2016 the country borrowed Sh109.5 billion from China.
However, in 2017, the country borrowed about Sh64 billion.
"Other top ten debtors of China from Africa include Republic of Congo (Sh742 billion), Sudan (Sh649 billion), Zambia (Sh637 billion), Cameroon (Sh556, billion), Nigeria (Sh483 billion) Ghana (Sh349 billion), and DRC (Sh343 billion)," the report indicates.
Kenya Holds Third Highest Chinese Debt in Africa