Business Daily | by Otiato Guguyu
The weakening of the shilling has increased Kenya’s dollar debt by Sh305.6 billion since the start of the year as the local currency yesterday hit a new historic low of Sh111.3 against the greenback.
Kenya owed $30.6 billion on December 31, which was Sh3.1 trillion when the shilling was trading at 101.25 and the same debt is now worth Sh3.4 trillion.
The shilling has shed more than nine percent to the dollar since the start of the year after earnings from the crucial tourism sector collapsed…
