Home Business Kenya to raise $1 billion in debt for Tullow Oil project

Kenya to raise $1 billion in debt for Tullow Oil project

tullow oil exploration turkana county lokichar basin
[Image source: NMG File Photo]
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Kenyan Wall Street | by Eunniah Mbabazi


Plans are underway for Kenya to raise $1 billion of debt to buy a stake in an oil project operated by Tullow Oil Plc and its partners, likely to happen next year.

The debt will be used as an equity injection in Kenya’s oil company to fund its portion of the project, which includes a heated pipeline…

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