RUTO’s government reveals the way forward after cancelling controversial Adani deals with JKIA and KETRACO


Wednesday, December 4, 2024 - The government of President William Ruto has reiterated its commitment to revamp infrastructure in the country with the controversial Indian conglomerate Adani Holdings.

In a statement, Principal Secretary (PS) for the State Department of the National Treasury Chris Kiptoo said the government is fully committed to adopting public-private partnership (PPP) models to finance the country's mega infrastructure projects, despite the Adani debacle.

This is after Ruto cancelled Adani deals with the Jomo Kenyatta International Airport (JKIA) and the Kenya Electricity Transmission Company (KETRACO), leaving PPPs in jeopardy.

However, Kiptoo clarified that the government was still exploring alternative public-private partnership (PPP) models.

This, according to Kiptoo, was because of the simple fact that the country’s fiscal position is untenable, making it impossible for the government to finance key projects by itself.

The other option would have been to review the country's tax policy, but that already proved impractical after the explosive anti-Finance Bill protests in June and July 2024.

While appearing before the National Assembly’s Public Accounts Committee (PAC) on Monday, Kiptoo further highlighted the need for an upgrade of Kenya's busiest airport JKIA, which has experienced busier days in recent years.

According to the PS, the amount required for a project as huge as upgrading an international airport cannot be raised through the national budget.

The Kenyan DAILY POST

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