Kenya banks on Panda bond to fund SGR to Malaba

Business and Technology Reporter in Nairobi, Kenya

Nation Media Group

Kenya has kicked off the process of issuing its first Panda bond as it seeks to plug financing gaps ahead of extending its standard gauge railway (SGR) from Naivasha to Malaba at the border with Uganda – a project heavily reliant on Chinese support.

A Panda bond is a sovereign facility issued in the Chinese domestic market and denominated in Yuan Renminbi (RMB), targeting Chinese investors and institutions.

Kenya banks on Panda bond to fund SGR to Malaba

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