The Sh7 a litre added to the fuel levy in July will be used to pay off Kenya’s inaugural Sh175 billion roads bond, underscoring the State’s defiance amid the public uproar that greeted the sharp increase by 38 percent.
The Treasury has approved a request by the Kenya Roads Board (KRB) to use the Sh7 generated from a litre of diesel and petrol as security for the bond, with the cash being used to compensate investors who will buy the multi-billion-shilling bond.
