What a Railway in Kenya Reveals About How China Builds Things in Africa
The China in Africa Podcast
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The One-Sided Story of the SGR Deal
Kenya took a $3.8 billion loan to finance a railway whose economics were shaky at best. Edward Oco, who was the auditor general back then expressed major concerns about the SGR deal and Oco also played another important role in this whole drama. He mistakenly suggested that the port of Oombasa, that is the actual physical port itself, was to be used as collateral in the deal if the Kenyan government could not repay the loans. A number of scholars including Professor Deborah Broughigan at Johns Hopkins University debunked that very very clearly. This thing was really a one-sided thing. It was packaged, brought and re-accepted.
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