Big ticket international contractors, mainly Chinese-owned firms, rejected a push by the government for a waiver of interest charges on the Sh650billion debt for road projects, although their local counterparts agreed to the request and forfeited Sh7.5 billion.
Martin Agumbi, the acting Director-General of the Kenya Roads Board (KRB) on Monday disclosed that pending bills drew interest charges of slightly more than Sh10.7billion with the government approaching more than 270 contractors to forfeit 70 percent of the amount in a return-to-work formula in which those who accepted the offer have since received a combined Sh123 billion as part-payment of the debt that accrued between 2005 and December 2024.
