6 days ago
Kenya in Talks With Etihad Rail, Plans to Raise $4 Billion to Extend Line
Kenya plans to raise as much as $4 billion by securitizing an import levy to fund the extension of a China-built railway, and is in talks with Etihad Rail to run freight operations on the line.
The East African nation will use its so-called railway development levy to raise funds to build a section to the southwestern Kenyan city of Kisumu and Malaba on the Ugandan border, Transport Secretary Davis Chirchir said. The Treasury collects about 50 billion shillings ($387 million) a year from the tariff that's charged at a rate of 2% of the value of imports into Kenya, according to the minister
