Kenya Airways (KQ, Nairobi Jomo Kenyatta) is seeking to recover more than KES1.5 billion shillings (USD11.6 million) being withheld in Ethiopia due to foreign exchange restrictions in that country, according to CEO Allan Kilavuka.

He told Business Daily Africa that Kenya and Ethiopia were negotiating to ease these restrictions, as the funds in Ethiopian banks are losing value through a 30% drop in the Ethiopian birr against the US dollar.

“We have significant amounts of blocked funds. We have USD12…

Source: ch aviation
Read more: Kenya Airways seeks release of mn frozen in Ethiopia