(Ecofin Agency) – The infrastructure will stretch over 440 km, and will connect the capital Nairobi to the port city of Mombasa which serves as a commercial hub for several other East African countries.
Everstrong Capital, an American infrastructure asset management company, has signed a $3.6 billion deal with the Kenya National Highways Authority (KNHA) to build an expressway connecting the two largest cities in the country, reported Bloomberg this Thursday, May 23, 2024, citing a press release from the Kenyan organization.
This agreement was announced on the sidelines of the four-day state visit that Kenyan President William Ruto has been making to the United States since May 20. It involves the construction of a 440 km toll highway linking the capital Nairobi to the port city of Mombasa, which serves as a commercial hub for several other East African countries.
The expressway known as Usahihi (correctly, in Swahili) will consist of four to six lanes and pass through a large nature reserve. It will be built and operated by Everstrong Capital as part of a public-private partnership, which will avoid increasing Kenya’s debt.
“The construction of the Usahihi Expressway poses no financial risk to the Kenyan government as it is structured to operate independently of the state budget and is expected to be financially self-sustaining”underlined the KNHA in its press release.
Founded in 2015, Everstrong Capital invests primarily in the energy and power, transportation, communication, water, healthcare and housing sectors in sub-Saharan Africa. It has representative offices in Kenya and South Africa.
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07/12/2020 – The American Everstrong Capital plans to mobilize nearly $45 million for investments in Kenya
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08/24/2023 – American restaurateur Papa John’s plans to launch in Kenya next September
