RUTO’s Gov’t to build Nairobi-Malaba Expressway as Treasury CS JOHN MBADI inks a game-changing deal in the U.S.

Thursday, October 24, 2024 – The government of President William Ruto is on the verge of building the game-changing Nairobi-Malaba Expressway.

This is after Treasury Cabinet Secretary John Mbadi and his Principal Secretary Chris Kiptoo inked the Public-Private Partnerships (PPP) deal with the International Finance Corporation (IFC) to finance mega projects including the Malaba Expressway.

A high-profile delegation led by Treasury Cabinet Secretary John Mbadi and Principal Secretary Chris Kiptoo met with senior officials from the IFC in Washington to discuss possible areas of partnership.

While welcoming IFC's advisory support, CS Mbadi stressed PPPs have the potential to help Kenya achieve its development goals through innovative financing of key infrastructural projects.

He also semphasized the importance of sensitising the public on the PPP model to enable Kenyans to understand how Kenya can realise untapped opportunities that are there for the taking.

The Treasury CS also emphasized the government's goal of utilizing PPPs to shift the burden of major infrastructure projects off the government's balance sheet, reducing overreliance on loans and exchequer financing.

PS Kiptoo also expressed keen interest in asset monetization, identifying the proposed Expressway from Nairobi to Malaba, at the Kenya-Uganda border, as a prime opportunity. 

"The Malaba Expressway could significantly enhance trade and regional connectivity. Through a PPP arrangement, we can fast-track its construction and management without burdening the exchequer," PS Kiptoo stated. 

The PS underscored the need for thorough risk assessment in PPP projects, ensuring they do not place undue strain on public finances. "PPPs should be reserved for high-priority projects where the benefits clearly outweigh the risks," he added. 

On their part, the IFC officials outlined several areas for potential collaboration, including asset monetization, legal reforms, and strengthening the regulatory framework for PPPs. 

The Kenyan DAILY POST