SGR deal underscores need for transparency

SGR cargo train at the Naivasha Inland Container Depot, Nakuru County, January 10, 2022. [Kipsang Joseph, Standard]

The finer details of Kenya's closely-guarded Standard Gauge Railway (SGR) deal with China have been revealed and, rightfully so, ignited a political storm.

According to the document released by Transport Cabinet Secretary Kipchumba Murkomen, the loan terms of the Sh670 billion project included a 2.0 per cent annual interest, with a further management and commitment fee at 0.25 per cent. The loan has a 20-year tenure during which goods bought with SGR proceeds would be sourced from China.