State now turns to borrowing to offset piling pending bills

A section of Thika Superhighway. The government plans to raise up to Sh360 billion in the next three years through bonds for new roads and maintenance of existing ones. [Elvis Ogina, Standard]

The government will borrow money to settle part of its pending bills, President Uhuru Kenyatta said yesterday.

In an address to the nation, the head of state said the government would float an infrastructure bond of Sh150 billion, with the funds raised going to the completion of all ongoing road and infrastructure projects.