Raila-Uhuru tussle features in Sh 200 Billion investment

Sh200Billion investment at risk as NASA-Jubilee rivalry intensifies

Investors have been warned that the country’s “volatile political environment” occassioned by NASA’s refusal to recognize Kenyatta’s presidency is a risk to their investment.

The warning was issued by four global banks CitiGroup, Standard Bank, J.P. Morgan and Standard Chartered Bank enlisted to secure the multimillion dollar investment.

The report read in part that “Although some stability was achieved following the Supreme Court ruling in November 2017, political uncertainty remains as a result of NASA’s refusal to recognise Kenyatta as President”.

The prospectus further warned that the political stand-off could have far-reaching effects on capital markets, tourism and foreign investment, as well as Kenya’s economy.

As a result, Kenya’s ability to pay back its debts will be dependent of how the nation steers past the current crisis.

Kenya will be seeking a second round of investment by floating the Eurobond.

In 2014, the nation borrowed Sh 176 Billion to finance infrastructure and other projects. However, allegations emerged that a significant amount of it was lost through corruption.

Kenya’s debt has also grown significantly in recent years with each citizen reportedly having a debt of Sh100,000 should the current financing go through.

Uhuru Kenyattas romantic message to Margret on Intl womens day

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Playing their song was a show of love - Raila responds to Sauti Sol

Playing their song was a show of love - Raila responds to Sauti Sol

Officer who woke up from 9-month coma, only to find he was dismissed from NPS

Officer who woke up from 9-month coma, only to find he was dismissed from NPS

Ruto reacts to Martha Karua's selection as Raila's running mate

Ruto reacts to Martha Karua's selection as Raila's running mate

Another suspect arrested after brutal murder of KIMC student Purity Wangechi

Another suspect arrested after brutal murder of KIMC student Purity Wangechi

DP Ruto's bodyguard nursing injuries after falling off speeding vehicle [Video]

DP Ruto's bodyguard nursing injuries after falling off speeding vehicle [Video]

Gubernatorial hopefuls rush against time to pick running mates

Gubernatorial hopefuls rush against time to pick running mates

Kalonzo to run for president, unveils running mate

Kalonzo to run for president, unveils running mate

Raila finally picks Martha Karua as his running mate [Video]

Raila finally picks Martha Karua as his running mate [Video]

Which way for Gideon Moi, presence in Kalonzo and Raila events leaves questions

Which way for Gideon Moi, presence in Kalonzo and Raila events leaves questions