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Muyela Roberto is a seasoned journalist at TUKO.co.ke, boasting over nine years of experience in the digital media landscape. He possesses extensive expertise in financial reporting and is adept at editing. His professional journey includes notable tenures as a business and current affairs writer at People Daily, Kenya News Agency, Scholar Media and TUKO. At TUKO, he has also honed his skills as a copy editor for three years before moving to the business desk.
President William Ruto's administration has signed a deal to construct the Nairobi-Mombasa Expressway at the cost of KSh 471 billion (USD 3.6 billion).
The 440km highway will be the second toll road in Kenya and will feature four to six carriageways. It is expected to ease connections along the busy Nairobi-Mombasa route.
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"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," Everstrong Capital LLC was quoted by Bloomberg.
According to Everstrong, the project envisions attracting the funding from investors, pension funds development agencies, and private investors in kenya.
The Usahihi Expressway will be complimented by the Nairobi-Mombasa Standard Gauge Railway (SGR) and the existing public Nairobi-Mombasa Road.
This deal marks a special highlight during Ruto's state visit to the US, especially at a time when he is facing heavy criticism for chartering a private jet at about KSh 200 million to fly to Washington.
Government Spokesperson Isaac Mwaura dismissed questions about the expenses, saying that the fruits (deals signed during the trip) will outweigh the transport expense by "over a million times".
During Ruto's visit, beverage maker Coca-Cola announced it would invest up to KSh 23 billion in the Kenyan economy in the next five years.
The trip will also see Kenya get 16 millitary helicopters from the US, a shot in the arm for security agencies in Kenya.
Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke
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