Formal agreements for plans to build a new railway line in East Africa with Chinese help have been signed in the Kenyan capital, Nairobi.
It is to run from Mombasa to Nairobi and will extend eventually to Uganda, Rwanda, Burundi and South Sudan.
In Kenya, the line is to replace a narrow-gauge track built more than 100 years ago during British colonial rule.
China is to finance 90% of the first stage, put at $3.8bn (£2.3bn), with work carried out by a Chinese firm.
via BBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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