China now controls 66 per cent of Kenya’s bilateral debt

Ongoing construction of the Standard Gauge Railway (SGR) project, section 7, currently on phase 2A, at China Communications Construction centre in Emali. [David Njaaga,Standard]

China tightened its grip on Kenya’s economy, extending about Sh165 billion in loans last year, latest data shows.

This saw the Asian country stretch its lead as the country’s largest bilateral lender, with its debt stock increasing by 52.8 per cent to Sh478.6 billion in 2017, from Sh313.1 billion in 2016.