Inside Sh11bn KQ loan deal with government
Monday April 19 2021
By BONFACE OTIENO
The airline took the debt in two tranches of Sh5 billion followed by Sh6 billion.
The Sh5 billion loan has a concessional interest rate of three percent per annum – less than a quarter of the rate charged by commercial banks and matures in five years.
The carrier will pay an interest of Sh150 million per year on the loan or a total of Sh750 million over the five years.
Kenya Airways #ticker:KQ has revealed the terms of an Sh11 billion loan it took from the government in the year ended December to fund its operations at a time the Covid-19 pandemic had hurt its cash flows.
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RIYADH: Participants at the Future Investment Initiative (FII) Institute virtual event on Thursday called for inclusive efforts towards achieving environmental, social and governance (ESG) goals, in order to help build a sustainable future for all.
The virtual event titled “The Neo-Renaissance: Mobilizing ESG for a Sustainable Future” – was opened by FII Institute CEO Richard Attias, who told delegates: “We need to build more sustainable markets in 2021.”
“As we continue to battle the global pandemic, we need to rethink our approach to global sustainability… Although ESG has proven its worth, much remains to be done to ensure we use it to its full potential. The low level of inclusion and participation of emerging markets in the development of ESG frameworks is counterproductive to global sustainability,” he added.