M a r k e t N e w s
Kenya President Roots for Closer Partnerships in Infrastructure Development
Posted on : Monday, 19th October 2015
President Uhuru Kenyatta has called for closer partnerships between governments, regional and international investors to bridge financing gaps in infrastructure development.
President Kenyatta said governments cannot single-handedly invest in every infrastructure needed in the entire region due to resource constraints.
He spoke during the 11th Summit of the Northern Corridor Integration Projects (NCIP) at Safari Park Hotel, Nairobi.
"I am delighted to note that since the 9th Summit, our private sector has become an active player in the Northern Corridor Integration Projects, " the President said.
The Northern Corridor projects are designed to link the land locked countries of Uganda, Rwanda, South Sudan and Burundi to Kenya's Indian Ocean Port of Mombasa.
The corridor also serves the Democratic Republic of Congo (DRC) and northern Tanzania.
President Kenyatta said investment in infrastructure is vital to elevate countries in the region to a level where they can favourably compete with other regions.
He urged companies in the region with relevant expertise to form consortiums to increase their financial muscle so as to compete with multinational corporations for bigger projects.
President Kenyatta said Kenya has undertaken to provide the needed support to the private sector to encourage participation in key projects.
"We look forward to developing even closer collaboration through the Public-Private Partnerships (PPP) initiative, as a holistic approach necessary to increase and enhance competitiveness," the President said.
INVESTMENTS ARE SAFE
President Kenyatta also acknowledged the contribution of international partners and financial institutions in the funding of NCIP flagship projects.
He pointed out that much more is needed to be done to address the unsustainable high costs of production occasioned by an outdated transport and communication system.
The President appealed to the NCIP partner states to expedite completion of power transmission infrastructure to facilitate power trade in line with the agreement of the 8th Summit.
The 8th Summit had appreciated the progress made in the joint sourcing of funds for the upgrading of the Masaka-Mbarara transmission line and directed the respective ministers to ensure that contractors deliver the project on schedule by December 2016.
President Kenyatta said Kenya was addressing concerns raised by stakeholders in relation to the issue of the crude oil pipeline.
He assured them of the safety of their investments and interest in the pipeline.
President Kenyatta emphasised Kenya's commitment to the full implementation of regional infrastructural projects to facilitate trade between countries by ensuring the unhindered movement of people and capital.
MAJOR ACHIEVEMENTS
Foreign Affairs and International Trade Cabinet Secretary Amb. Amina Mohammed said since the inception of the Northern Corridor Initiative, there has been major achievements both in trade, movements of goods and services within the region.
She cited the reduction of time taken in the clearance and movement of goods from the port of Mombasa including reduction of costs in transit charges within the region.
She commended the presidents of member states for championing these initiatives and setting timelines of implementing agreed projects.
The summit was attended by President Yoweri Kaguta Museveni of Uganda, Paul Kagame of Rwanda and delegations from Burundi, South Sudan, Ethiopia, Democratic Republic of Congo (DRC Congo) and Tanzania.
Source : allafrica.com
