Nairobi, Aug. 19 -- The share of Kenya's foreign loans in yuan has more than doubled to 11.7 percent after converting three standard gauge railway (SGR) dollar-denominated loans to the Chinese currency as nations explore alternatives to expensive greenback-linked financing.

The value of yuan-denominated external debt jumped 142.4 percent to Sh665.15 billion in the year to June, growing its share from five percent a year earlier, Treasury data shows.

This surge pushed the yuan ahead of the Japanese yen, which saw its share fall to 4.5 percent from 5.2 percent.

The US dollar remained the main currency for Kenya's external debt at 54.8 percent or Sh3.1 trillion, but its share dropped from 59.8 percent in June 2025 following the swaps to y...