Amani National Congress (ANC) Party leader Musalia Mudavadi has warned that if the Jubilee administration doesn’t change tact in their business, the next government after 2022 will not engage in any developmental projects but paying debts. Last week the government failed to secure another $3.6 billion from China- in loans and grant- that was meant to fund the construction of SGR from Naivasha to the lakeside city of Kisumu. Parliament last week also warned that assets of at least eight State corporations risk seizure by lenders over Sh147.7 billion loan. The country’s nominal debt level hit Sh5.28 trillion in December 2018 and is projected to hit Sh6.3 trillion by 2019/20 financial year.

Source: Standard Digital May 01, 2019 10:49 UTC