Sharp Daily
No Result
View All Result
Saturday, June 7, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home International

Spain demands repayment of KES 1.2billion debt from Kenya

Brenda Murungi by Brenda Murungi
January 10, 2024
in International
Reading Time: 2 mins read

Kenya is embroiled in a diplomatic dispute concerning unpaid bills exceeding KES 1.2 billion, primarily related to the construction of a multipurpose dam at the lower Ewaso Ngiro by a Spanish company. The Embassy of Spain has reportedly communicated with various Kenyan government entities to facilitate payment, but success has been elusive.

The issue was raised during the Kenya-Spain joint business forum in Madrid, where the Minister for Foreign Affairs, Jose Albares Bueno, highlighted the outstanding bills. The amount in question poses a risk for Kenya, as a significant interest accrues due to the 10-year delay in settling the bill.

Spain’s Ambassador to Kenya, Javier Garcia de Viedma, expressed concern in a letter to the Treasury, stating, “As you are aware, the longstanding debt with the Spanish companies TYPSA is yet to be settled…despite the many efforts taken by the company and this embassy to collect the outstanding payments, we still have not received any way forward on the issue.”

Another letter addressed to the Head of Public Service, Felix Koskei, and copied to the then CS for the Ministry of East African Community, Rebecca Miano, affirmed that the Spanish company was contracted by the Ministry of Regional Development (now Ministry of East African Community). The contract, totaling KES 3.1 billion and KES 267.5 million, was for the detailed design of the lower Ewaso Ng’iro South river multipurpose dam.

RELATEDPOSTS

Court upholds travel ban on chinese investor over KES 83.5 million tax debt

February 10, 2025

Leveraging debt for wealth in Kenya’s real estate market

January 14, 2025

The government of Kenya asserts that it awaits further verification from the pending bills committee, chaired by former Auditor General Edward Ouko, before proceeding with any resolution on the outstanding payments.

Previous Post

Mpesa services back after outage

Next Post

DRC court upholds Tshisekedi’s win amid electoral fraud allegations

Brenda Murungi

Brenda Murungi

Related Posts

International

Knight Frank; Kenya’s wealthy are trading mansions for market moves

May 16, 2025
International

Balancing costs and quality in construction projects

March 21, 2025
Crime

Resilience in commercial office market in 2024

March 7, 2025
Crime

Five key considerations for buying a home in suburban areas

February 21, 2025
International

Top 5 flooring options in Kenya: durability, style, and functionality

January 27, 2025
International

Why SPVs are the future of real estate development

January 24, 2025

LATEST STORIES

How Kenya’s E-Mobility shift could redefine urban planning

June 5, 2025

Economic liberators are the real heroes and heroines of the year

June 5, 2025

Affordable retirement planning for small businesses with CURBS

June 5, 2025

How Kenyan banks can modernize without marginalizing

June 4, 2025

Human rights concerns over activists’ treatment in Tanzania

June 4, 2025

Decoding stock-based compensation

June 4, 2025

Comparative advantage is the secret to real economic take off

June 4, 2025

Understanding inflation and its impact on everyday life

June 4, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024