Reuters<\/a>.\n <\/p>\n\n “This facility will strengthen our local vehicle assembly and parts manufacturing industry while also addressing electricity transmission and distribution losses, currently standing at about 23% of our national output,” Mudavadi said in a post on X.\n <\/p>\n
\n The agreement comes as Kenya negotiates a separate term sheet with China to convert part of its dollar-denominated debt into yuan and extend repayment terms, a move aimed at easing sovereign borrowing costs.\n <\/p>\n
\n The country currently spends about $1 billion annually servicing obligations to China, its largest bilateral creditor. As East Africa\u2019s biggest economy, Kenya is widening its funding options at a time of volatile global markets and elevated U.S. interest rates.\n <\/p>\n
Kenya explores diverse financing<\/p>\n
\n On the sidelines of TICAD, Raphael Otieno, director-general of debt management at Kenya\u2019s finance ministry, said Nairobi\u2019s strategy is shifting away from short-term refinancing risks toward reducing expensive debt.\n <\/p>\n
\n Kenya is weighing sustainability-linked bonds with guarantees, yen-denominated Samurai bonds, renminbi-denominated Panda bonds, and debt swaps. The Treasury has also prepaid some domestic bonds and plans more such operations.\n <\/p>\n
\n Switching repayment from dollars to China\u2019s Yuan could slash interest costs by almost half, while lengthening the tenor would free up much-needed fiscal space.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Japan will extend up to 25 billion yen ($169 million) in Samurai financing to Kenya to support the…\n","protected":false},"author":2,"featured_media":101794,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-101793","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/101793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=101793"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/101793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/101794"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=101793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=101793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=101793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}