Kenya's highways authority and U.S. infrastructure investment firm Everstrong Capital have inked a $3.6 billion deal to construct a 440 km (273 miles) highway connecting the capital city Nairobi to the port city of Mombasa.
- Kenya and Everstrong Capital have signed a $3.6 billion deal to construct a 440 km highway from Nairobi to Mombasa
- Funding for the project will come from international investors, development agencies, pension funds, and Kenyan private investors
- The Usahihi expressway will have four to six lanes and pass through a wildlife reserve
A larger highway between Mombasa and Nairobi has been a priority for successive governments, aiming to alleviate congestion on the heavily trafficked route to and from the port, according to Reuters.
"The project anticipates attracting investments totalling $3.6 billion, sourced from international investors, development agencies, pension funds and an exceptionally large number of Kenyan private investors," Everstrong said in its statement.
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The thoroughfare, known as Usahihi — meaning "correctly" in Swahili — will feature four to six lanes and pass through an expansive wildlife reserve. The route will complement the existing two-lane public road and a railway, both financed by Chinese lenders.
“The construction of the Usahihi expressway poses no financial risks to the Kenyan government, as it is structured to operate independently from the government of Kenya’s balance sheet and is projected to be financing self-sustaining,” Bloomberg%20%2D%2D%20The%20Kenya%20National,President%20William%20Ruto's%20US%20visit.) reported.
Ruto is advocating for increased private investment in Kenya as he embarks on the first state visit by an African leader to Washington in 16 years. The United States plans to strengthen its ties with the continent, where competitors like China and Russia have gained influence and overshadowed its presence in recent years.
