Africa Star Railway Operation Company Ltd , the Chinese company contracted to run the train service, was said to have listed clearing of its debts as a condition before fully transferring operations of standard gauge railway to Kenya in May next year.
The billions of shillings in pending bills add to the Sh 420 billion that Kenya borrowed to build the modern line from Mombasa to Nairobi and for the purchase of engines and coaches. The pressure to settle the Afristar dues comes when the Covid-19 pandemic has hit Kenya’s government revenues and limited access to commercial loan markets, forcing the country to turn to the World Bank and the International Monetary Fund for direct budgetary financing.
Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for an extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.
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