Beijing (28th Nov, 2019): China is all set to take over Kenya’s main port over unpaid Chinese loan.
According to reports of Baaghi TV, the government of Kenya risks losing the lucrative Mombasa port to China, should the country fail to repay huge loans. These unpaid loans reportedly advanced by Chinese lenders for the development of the Standard Gauge Railway (SGR).
Moreover, at stake is the Inland Container Depot in Nairobi, which receives freight hauled on the new cargo trains from the seaport.
Reportedly, implications of a takeover would be grave for thousands of port workers who would be forced to work under the Chinese lenders. Management changes would follow the port seizure because the Chinese would naturally want to secure their personal interests.
On the other hand, sources have confirmed that the revenues from the port would be directly sent to China for the servicing of an estimated Sh500 billion lent for the construction of the two sections of the SGR.
Stay tuned to Baaghi TV for more updates.