At the official opening of the Africa Public-Private Partnerships Summit in Nairobi, officials called for increased domestic and international investment while highlighting challenges that have slowed the development and implementation of infrastructure projects.
The government is increasingly looking to private investors to help finance infrastructure development as pressure on public finances limits its ability to fund major projects.
At the official opening of the Africa Public-Private Partnerships Summit in Nairobi, officials called for increased domestic and international investment while highlighting challenges that have slowed the development and implementation of infrastructure projects.
“What we are trying to do right now as a directorate is to see how we can crush on time, shorten the duration for undertaking feasibility studies and then the focus is more on preparing credible transaction documents,” said PPP Directorate Director General Eng. Kefa Seda.
The approach is expected to open up opportunities in sectors including transport, energy, water and agriculture, while attracting investment from pension funds, insurance companies and international financiers.
“Our infrastructure gap is huge, funding gap, we require about 150 billion dollars every year, but we are only able to finance about 60 billion dollars, so we have a gap of about 80, 90 billion dollars every year,” stated PPP Committee Chairperson Dr. Chris Kiptoo.
