According to documents made public by Kenya’s National Treasury, the fee pertains to the cost of interest default, which is 1% of the amount that is owed.
Additionally, it was discovered that the multi-billion dollar project’s annual operating expenditures have exacerbated the nation’s debt crisis. For instance, in the 2020–21 fiscal year, the project’s operating expenses was Ksh18.5 billion compared to Ksh15 billion (profits).
Additionally, it is predicted that the nation’s debt, which is already Ksh8.6 trillion, will increase sharply now that President William Ruto has moved operations at the inland dry ports back to Mombasa.
