The Standard Gauge Railway (SGR) has hauled its highest freight volumes yet this year, driving revenue up to KSh 15.88 billion between January and September 2025. Even with the strong performance, the line continues to sit under the weight of a hefty Chinese loan that has now climbed to KSh 646 billion.
The operator is tightening its cash position ahead of government plans to assume full control of SGR operations by December 2025. Passenger numbers also ticked up, with 1,894,561 people using the service in the first nine months of the year, a 5.95 percent increase from 2024.
Freight remains the backbone of the railway, bringing in KSh 12.56 billion compared with KSh 10.33 billion over the same period last year, a jump of 21.6 percent and accounting for nearly four-fifths of all revenue. Passenger earnings rose to KSh 3.32 billion from KSh 2.92 billion, helped by average revenue per traveller rising to roughly KSh 1,753. August was the busiest month with 291,584 passengers, while February trailed at 168,897.
Freight tonnage reached 5.41 million tonnes, up from 4.87 million tonnes in 2024. June set a new monthly record at 732,510 tonnes, whereas September was the softest at 520,203 tonnes. Overall revenue climbed 19.85 percent year-on-year from KSh 13.25 billion.
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The SGR was built using roughly USD 3.6 billion from the Export–Import Bank of China. The outstanding balance, including capitalised interest, has grown to KSh 646 billion. One tranche of USD 1.6 billion is under semi-annual repayment until January 2034.
Kenya Railways has fallen into arrears on a portion of the on-lent loan, attracting additional charges estimated at KSh 34.1 billion. The government has since switched the repayment currency from US dollars to the Chinese yuan.
China Road and Bridge Corporation has run the line since inception, though the state expects to complete the long-delayed takeover by the end of 2025.
