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Kenyan Agency Mulls $1.46 Billion Bond to Repair Damaged Roads
NAIROBI (Capital Markets in Africa) – A Kenyan government agency plans to offer 150 billion shillings ($1.46 billion) of bonds to fund repairs to roads in the East African nation that have suffered from historic neglect. The Kenya Roads Board is seeking approval from the Treasury to begin a July offering of the first tranche of debt that’ll be backed by a tax on fuel imports that provides a steady income, according to Executive Director Jacob Ruwa….
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