Kenya and a US investment manager clinch a $3.6 billion highway contract

The US infrastructure investment manager Everstrong Capital and Kenya’s roads administration inked a $3.6 billion deal on Thursday to construct a 440 km highway connecting the nation’s capital to Mombasa, the port city.

In an effort to reduce traffic on the congested route to and from the port, several administrations have expressed a desire for a larger roadway between Mombasa and Nairobi.

“The project anticipates attracting investments totalling $3.6 billion, sourced from international investors, development agencies, pension funds and an exceptionally large number of Kenyan private investors,” Everstrong stated in a statement.

Concurrent with the agreement is the state visit to the United States by Kenyan President William Ruto, the first by a leader from Sub-Saharan Africa since 2008.