Posted on 12/26/2018 5:22:54 PM PST by blam
Nairobi, Dec 22 (UNI) China is likely to take over Kenya’s Mombasa port if Kenya Railways Corporation defaults in the payment of a loan from Exim Bank of China. Kenya used Mombasa port to secure the loan which was taken from the Chinese bank to finance construction of the standard gauge railway (SGR).
A leaked audit report shows that the government waived sovereign immunity on the Kenya Ports Assets on signing the agreement with China thus exposing Kenya Ports Authority to foreclosure by China Exim Bank.
The report said “The payment arrangement agreement substantively means that the Authority’s revenue would be used to pay the Government of Kenya’s debt to China Exim bank if the minimum volumes required for [rail] consignment are not met,” auditor F.T. Kimani wrote. “The China Exim bank would become a principle over KPA if KRC defaults in its obligations, reports African Stand and All Africa news.
In an interview with Kenyan media, KPA managing director Daniel Manduku expressed confidence that the contract clauses would not cause difficulties. “There is no risk of losing the port. In fact, we will pay this loan ahead of time,” he said. “We can even take another loan and pay it on time.”
(Excerpt) Read more at investmentwatchblog.com ...
The corrupt are now selling off parts of the country
All according to China’s plan of neo-colonialism.
The ChiCom Empire will be nowhere as just and forbearing as was the British Empire, and will be three times as hard to dislodge.
Is Bammy’s birthplace hut part of the deal too?
This is huge
Kinda makes you wonder what deals they made here under obama and Clinton, do they own Long Beach?
She made some obtuse remark about “ eminent domain” after her first trip to China as SoS
Surely b o will be willing to bail out his homeland with a token amount from his $64,000,000.00 “memoir” advance.
Putting the vise on the dark continent. I hope the kenyans can rabble-rouse some mau-maus to nip at the heels of such imperialism.
America is foolish. We loan outrageous amounts of money to countries we know cannot, or will not repay us.
Then we forgive the debt.
China takes collateral
Welcome to a third world legal system, pal.
The ChiComms are screwed. The ChiComm apes don’t have the logistical capability to take over the Mombasa port. Hell, the ChiComms don’t even have the capability to invade Taiwan, and Taiwan is closer than Africa.
The Africans have screwed over China. As usual, the Chicomms have bitten more than they can chew. China is run by commie idiots.
Kenya used Mombasa port to secure the loan which was taken from the Chinese bank to finance construction of the standard gauge railway (SGR).
https://www.railway-technology.com/projects/mombasa-nairobi-standard-gauge-railway-project/
Sort of like Venezuela selling 49.9% of Citgo to Putin’s Russia for $1.5B in another article earlier today. How long will locals allow Russia and China to take over their countries?
Kenya fell for that old Chinese Loan trick ,LOL
“Kinda makes you wonder what deals they made here under obama and Clinton,...”
My thoughts exactly. I not only wouldn’t put it past those two traitors, I will bet money they gave/traded/sold some parts of this great land for a few campaign dollars.
Of course the knee pad media would gladly bury the story so as to protect their golden boy/girl.
The Chinese could just fund guerillas to fight by proxy for them.
China Buys Panama’s Largest Port
"For more than 100 years, the Panama Canal has controlled the bulk of goods transferred between the Pacific and the Atlantic. For much of that history, this monumental feat of engineering was under the control of the United States. But this is no longer the case."
In May, Panama’s largest port was purchased by a Chinese company called Landbridge Group."
Yes something like this occurred in China back in the 1800s and European power did what China is doing to Kenya.
Part of China’s plan to dominate the world via economic hegemony
FWIW, China holds the paper on a staggering amount of US home loans, a fact not publicized by either the media or our Treasoncrats in Washington
Just wait until the next Sept 2007 style economic melt down event.
President Trump is not pushing to make American self sufficient in oil and manufacturing for nothing. He is doing it for a very good reason, as may well become very apparent in the near term future.
China is actively doing that throughout the poorer Pacific island nations. They want control of ports to park their navy.
Chinese version of Nigerian Prince scam?
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