Thursday, December 5, 2024 - Prime Cabinet Secretary Musalia Mudavadi might have found a solution to revamping the Jomo Kenyatta International Airport (JKIA) after President William Ruto dropped Adani Holdings due to public pressure.
This is after he called on the Diaspora Community to come in and help Ruto upgrade JKIA.
According to the Foreign Affairs
Cabinet Secretary, the government should opt to float a diaspora infrastructure
bond to upgrade the JKIA.
On Tuesday, Ruto made it
abundantly clear that the government will find a way to upgrade the
airport after protests halted talks with the Adani Group.
To make the necessary upgrades
to the aging airport, the government requires northwards of Ksh260 billion.
According to Mudavadi, Kenyans
living abroad could single-handedly pay for the necessary upgrades without
relying on Adani or foreigners.
While speaking during Diaspora
Day 2024 at the Kenyatta International Conventions Center (KICC) yesterday,
Mudavadi revealed that analysis from the government showed that an
infrastructure bond could raise upwards of Ksh500 billion.
“If we package an infrastructure
diaspora bond properly, well backed...the bond can raise more than the Ksh300
billion required,” he asserted.
“Our initial figures show we
could raise over Ksh500 billion. That means the diaspora can build that new
airport,” he added.
The Kenyan DAILY POST
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