Taxpayers forked out Sh17.4 billion in the nine months to March 2024 to service a Kenya Airways (KQ) loan that the government has now taken over, disclosures by the Treasury show.
The $641.49 million (Sh83.4 billion) KQ loan was a 12-year facility originally provided by US lenders Citi Bank and JP Morgan in 2017 before US export financier Private Export Funding Corporation (Pefco) took it over with the US Exim Bank and the Kenyan government joining as guarantors.
