Deals or Debt? What you need to know about Kenya's conversation with the world

September 19, 2018
By
Collins Ogutu
for Chams Media Digital

NAIROBI- Last week, The Chamwada Report tackled the issue of debts, deals and bilateral talks between Kenya and various countries around the world, the United States, the United Kingdom and China.

In the report dubbed Deals or Debt, Alex Chamwada sought answers to many questions being asked by the public. He also dug deeper into what has been mostly seen as a looming crisis, Kenya's rate of borrowing and how the money is being used.

Permanent Secretary in the State Department for Trade Dr Chris Kiptoo said Kenya secured a Sh50 billion from the US towards improvement of the digital economy through national integrated digital information and communication infrastructure network. This will be supported by Exim bank and the US trade and development agency.

However, economic experts expressed varied opinions about the US trip.

Peter Warutere, an economist who spoke to Chams Media,  said the US deals were not spectacularly successful for economic purposes in terms of money rolling out.

On Theresa May's visit to Kenya, it was reported that the United Kingdom would put a 4 billion pounds investment deals in Africa. PS Kiptoo said the UK is one of the top investors in Kenya with over 250 well established companies in the country employing about 250,000 Kenyans. This accumulates to about 2.7 billion pounds worth of investment in Kenya.

On to China and according to State House, the deals focused on the role of the private sector. That a 30 kilometer expressway from JKIA through the city to Westlands will be constructed. Alongside three others (see in video), this will cost about Sh15 billion and will ne funded through a partnership involving Chinese private companies under the Kenya government roads annuity program.

Kwame Owino from the Institute of Economic Affairs told Chams Media that the best model to fund these projects is Public Private Partnership as financing through a loan would increase the national debt.

Watch the comprehensive and informative in the vide attached.

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