According to the star paper, Kenya risks losing its port to China as the port is attached a security collateral to the 364 Billion Exim Bank loan. This was revealed by the audiror general. It's clear Kenyan piblic debts has been rising exponentially with Kenya seemingly unable to settle its debt obligations.
The Mombasa Port is therefore at risk of being completely taken away by China if Kenya fails to meet its debt obligation in matters SGR loan. It's not clear why the big project cannot return on investment despite its high publicity as the biggest project of the jubilee administration.
Uhuru Kenyatta however still continues to borrow loan from various parts of the world to settle budget deficit. It's during his tenure as president that debts have hit the roof with Kenyans suffering heavily on matters their economic plight.
Its even shocking to most Kenyans that clearly Kenya has borrowed all this debts yet they have not seen it flow into their pockets or creat any form of employment given most graduates are jobless. The standard of life is very high especially due to this debts owing Kenyans are the ones who will pay them anyway or lose their assets like the KPA if Kenya defoults on its debts.
The government should therefore move with speed and pay this debts or risk losing the port to China. Kenyans have only one port and clearly cannot afford losing it to a foreign nation due to matters debts that have not benefited them. Share and comment please.
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