Kenya stands at a crucial juncture in its approach to infrastructure funding.
With the public debt soaring to Sh10.6 trillion—66 per
cent of our GDP—the need for innovative financial solutions has never been more
pressing.
National Treasury Cabinet Secretary John Mbadi's
announcement that public-private Partnerships will play a pivotal role in
financing infrastructure projects marks a significant shift in strategy.
As we confront fiscal constraints, it is vital to recognise the potential of PPPs to alleviate the burden of borrowing.
These partnerships can unlock much-needed investment while ensuring that projects are delivered efficiently and effectively.
However, the recent scrutiny surrounding
arrangements with the Adani Group underscores the necessity for transparency
and public trust in these deals.
With major projects on the horizon, including a $1.85 billion renovation of Jomo Kenyatta International Airport, the government must communicate clearly about the benefits and safeguards associated with PPPs.
By
fostering an environment of collaboration and accountability, Kenya can harness
the expertise and resources of private entities to build a resilient
infrastructure that supports economic growth.
The time has come for Kenyans to embrace this transformative approach, moving away from a reliance on unsustainable borrowing. With proper oversight, PPPs can be a pathway to a brighter, more sustainable future.
Quote of the Day: “It is not fair to ask of others what you are not willing to do yourself.”
Eleanor
Roosevelt
The American
diplomat, activist and US First Lady died on November 7, 1962