02 August 2017       Download


Further to the disclosure dated 5 April 2017 regarding the termination of the Rift Valley Railways (RVR) concession to run the Kenya-Uganda railway, the Kenyan High Court has ruled on Tuesday August 1st that RVR’s contract with the Kenyan government has been terminated.

The two parties have agreed to form a joint committee to oversee the transfer of the concession
and all its operations, assets and employees back to Kenya Railways within 30 days.

It is worth noting that Qalaa Holdings has classified Rift Valley Railways as a discontinued operation on its financial statements since 1Q2016 and therefore the transfer of the concession will not have a negative impact on Qalaa’s consolidated financial statements.