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The move by a consortium of local and international banks to finance a $350 million (Sh35.7 billion oil pipeline deal in Kenya - one of the country’s mega projects is changing the financing dynamics in the country, with local banks fighting for a pie of the lucrative projects.
The project’s financing banks include Co-operative Bank, CfC Stanbic Bank, Citibank, Commercial Bank of Africa (CBA), Rand Merchant Bank and Standard Chartered Bank. The transaction is an indication of Kenya’s attractiveness and willingness of local and international financiers to support the growing infrastructure development needs.
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