The National Treasury has denied claims that China could take over the running of the Port of Mombasa if Kenya defaults on its Ksh 364 billion Standard Gauge Railway loans.
Cabinet Secretary of Treasury Ukur Yatani said that the country is servicing the SGR loans as provided in the loan agreements.
He said the country`s main port has no adverse exposure to any lenders through existing loan agreements with the government.
The CS was responding to the auditor General report that showed that the port of Mombasa could be under the control of the Chinese if the government defaults on the 364 billion SGR loan.
The Auditor Report showed that the assets of Ports Authority were used as collateral.
By: Mikey Mugutsu