Written by Lisa Murimi
Weeks after the High Court temporarily halted the planned lease of Jomo Kenyatta International Airport (JKIA) to India’s Adani Group, the government has announced a new funding plan for the airport’s upgrade.
On Monday, Prime Cabinet Secretary Musalia Mudavadi disclosed that the government intends to raise funds for the airport’s revamp through the sale of a diaspora bond.
Addressing parliamentarians, Mudavadi explained that the government aims to mobilize resources from Kenyans living abroad to finance key infrastructural projects, including JKIA.
“We can mobilize diaspora resources to partner with private sector funds and support this infrastructure,” he said.
The issuance of diaspora bonds, which had been put on hold for six months, has been revived as part of this strategy.
Mudavadi also expressed regret over Kenya’s delay in upgrading JKIA, while other African airports, such as those in Ghana, Togo, and Rwanda, have seen significant improvements.
This new plan follows a court petition by the Law Society of Kenya, which led to the suspension of the Adani Group lease.
The deal, which would have granted Adani a 30-year contract to operate and rehabilitate JKIA, faced strong opposition from aviation workers and other stakeholders.
