Kenya Cabinet approves $350 million financing for Kenya Airways
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Kenya’s cabinet approved a $350 million shareholder financing package for Kenya Airways, to be released in phases under National Treasury oversight, with a repayment period of up to 10 years.
The cabinet also endorsed converting Sh122 billion of existing government loans into a tradable instrument that will qualify as equity, while noting that Kenya Airways contributes more than $1.3 billion annually to Kenya’s economy.