State debunks threats of China auctioning Kenya

The rate at which Kenya is acquiring loans from China has made many Kenyans worried on the repayment plan.

This has also risked the strategic resources owned by Kenya in case the state fails to honor the repayment terms and conditions.

Just last year the media reports indicated that China was making some bold steps of taking over the Port of Mombasa in order to settle the SGR first phase debt.

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The reports elicited a mixture of reactions from Kenyans demanding to know the agreement terms of the loan.

But according to the government all of our resources are intact.

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Nzioka Waita who is among the leads in the state house communication team and that of the President Uhuru Kenyatta, has elaborated the terms for the loan.

” The National Treasury would not allow Kenya’s indebtedness to put our strategic resources at risk. There are hundreds of agreements signed that have sovereign guarantees. There is nothing unusual about the sovereign terms around the SGR ,” Nzioka said on Check point KTN TV.

This gives Kenyans confidence in the many China deals but the big question still remains : What is sovereign guarantee to the loans?

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