By AGGREY MUTAMBO More by this AuthorChinese President Xi Jinping has pledged to cancel interest-free debt owed by “relevant” African countries as part of Beijing’s move to help the continent during the Covid-19 pandemic. Mr Xi spoke directly to African leaders via video link for the first time since the virus broke out. The leaders have been vocal in seeking easier terms on debt amid the pandemic. China is now the biggest creditor of Africa and is owed some $145 billion by the continent, including some $5 billion (about Sh530 billion) by Kenya. AdvertisementBut just under 20 per cent of these loans are interest-free, indicating the cancellation may be insufficient.

Source: Daily Nation June 17, 2020 17:24 UTC