Kenya Walks Away From Sh129 Billion UAE Loan, Says It’s Too Expensive
In a bold move, Kenya has rejected the remaining Sh129 billion from a UAE loan facility, choosing not to burden taxpayers with costly debt.
The government says the 8.25% interest rate attached to the loan is simply too expensive, especially now that cheaper financing options are available.
At a time when many Kenyans are struggling with the high cost of living, the decision is being seen as more than economics — but a statement on responsible borrowing and protecting the future.
Sometimes saying no is the wiser choice.
Kenya has chosen caution over convenience, sustainability over pressure.
The question now is — will this mark a turning point in how the country manages debt?
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