Author: Vicmas Sankara (Vicmas Sankara)

China Fines Kenya 1.3 Billion after Defaulting Loan
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China Fines Kenya 1.3 Billion after Defaulting Loan

China has slapped Kenya with a whooping 1.3 Billion fine after the government failed to pay back the loans advanced by Chinese banks for the construction of the standard gauge railway (SGR). The East Asian giant took the steps after the National Treasury  did not remit payments for the financial year ended June. The fine...