China takes up 30 percent of Kenya’s debt repayment

National Treasury CS Ukur Yatani. [Elvis Ogina, Standard]

China will gobble up Sh3 out of every Sh10 that Kenya allocates for external debt repayments in the next financial year, making the Asian giant a top bilateral lender.

Data from National Treasury indicates that the government has set aside Sh117.6 billion in principal and interest payments to service Chinese debts in the 2021/2022 financial year.