Treasury CS John Mbadi: Kenya Needs More Deals Like Adani to Boost Growth
Treasury Cabinet Secretary John Mbadi has defended Kenya’s deal with India’s Adani Group for the upgrade of Jomo Kenyatta International Airport (JKIA), citing the necessity of such public-private partnerships (PPP) for the country’s economic growth. Speaking at a Kenya Bankers Association event, Mbadi explained that Kenya’s financial constraints make it impossible to fund large infrastructure projects solely through public resources, and PPP deals provide much-needed private sector capital.
He pointed out that airports like JKIA, which have experienced significant wear and tear, must be revamped to maintain Kenya’s competitiveness as an aviation hub in East Africa. The Adani deal, worth Ksh. 238 billion over 30 years, would allow the conglomerate to operate and modernize JKIA under a concession agreement, returning the airport to the government after the period.
Despite public scrutiny and concerns over the deal’s transparency, Mbadi emphasized that similar partnerships are vital for other large infrastructure projects as well. He assured the public that no final agreement has been signed yet, and all legal procedures, including due diligence, are being followed.
Treasury CS John Mbadi: Kenya Needs More Deals Like Adani to Boost Growth