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The Kenya Railways Corporation is on the spot over failure to settle an avoidable amount of Sh34 billion, covering interest and penalties accumulated from an Exim bank loan, which financed the Standard Gauge Railway (SGR) project.
Auditor-General, Nancy Gathungu, said in her report for the year ended June 2024 that failure to meet obligations when due has attracted avoidable expenditure of Sh34.1 billion in the form of penalties amounting to Sh5.3 billion and interest of Sh28.85 billion, which could have otherwise been avoided.
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