A World Bank-backed guarantee fund has disclosed a Sh23.21 billion ($179.64 million) guarantee to Koko Networks, to cushion the energy firm against risks as it expands in the Kenyan market.
Multilateral Investment Guarantee Agency (MIGA)— the guarantee arm of the World Bank— said the security, agreed in March this year, will run for up to 15 years and covers Koko against civil strife, seizure of its land for public use and breach of contract in its Kenyan operations.
