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Motorists to pay Sh300bn roads bonds for pending bills
The payment of pending bills in the roads sector is expected to revitalise growth in the construction sector, helping anchor the forecast recovery of output this year by 5.2 percent from 4.7 percent, according to the Central Bank of Kenya.
Motorists will compensate investors set to buy the planned Sh300 billion road bonds for payments of mounting pending bills that have triggered the closure and auction of small contractors.
The Treasury disclosed to a National Assembly committee that the Cabinet has cleared the Kenya Roads Board (KRB) to allocate Sh12 of the Sh25 per litre Road Maintenance Levy Fund (RMLF) to compensate investors who will buy the two multi-billion shilling bonds.
