By DAVID MWEREMore by this AuthorKenya could lose the port of Mombasa to the Chinese government if Kenya Railways Corporation (KRC) defaults in the payment of Sh227 billion owed to Exim Bank of China. THE DEALA report by Auditor-General Edward Ouko states that the payment agreement substantively means the revenue of the Kenya Ports Authority would be used to clear the debt. The letter says, “KPA assets are exposed since the authority signed the agreement in which it has been referred to as a borrower under clause 17.5." Mr Ouko accuses the KPA management of not disclosing the guarantee documents in its financial statements. “Our attention has been drawn to reports that @OAG Kenya has released an audit report on @Kenya Ports for FY 2017/18.

Source: Daily Nation December 19, 2018 11:45 UTC