The Cabinet Secretary for National Treasury and Economic Planning John Mbadi has called on Kenyans to accept the Adani deal to develop the Jomo Kenyatta Airport infrastructure. Mbadi said on October 16, 2024, during the “Inua Biashara” MSME Exhibition at the KICC, Nairobi.
In his statement, the CS cited that Rwanda has developed a serious airport, Ethiopia also, and Kenya cannot lag behind.
He further reiterated that it is not about the airport alone but also major projects. He urged the congregants at the event not to shy away from engaging Kenyans.
“We are losing our competitiveness as the hub in this region. Therefore, whether it is Adani or whoever it is we must agree that someone must do our airport, and that communication must go out,” he emphasized.
At the same time, he called upon the President to explain the Adani issue and the Public-Private Partnership agreements more.
Further, the CS elaborated that as a country we need to be very clear on development. Moreover, he highlighted that there are some mega infrastructural development projects that the country is not able to fund.
“We must look for alternative financing and therefore Public-Private Partnership (PPP) new as it is new in the country, much as people don’t understand it, we must make the citizens of Kenya understand it,” Mbadi emphasized.
In addition, he added that when we give out a project to be done through PPP it is not selling it.
It is about seasoning that project to a private developer who works with us collaboratively to ensure that we have an infrastructure that is competitive enough.
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Mbadi Remarks During MSME Exhibition
CS John Mbadi asserted that the National Treasury remains focused on supporting initiatives that are pro-economic growth which will ensure sustainability and Job creation.
The subject of tax compliance and payments as supporting MSME’s growth and transformation in the country are very critical at the moment.
Moreover, the CS appreciated the banking sector for its level of commitment that the sector has in ensuring compliance with statutory requirements, Laws and regulations, and very importantly tax payments.
“This is one sector where we have very little problems with collecting taxes,” he cited.
Further, he recommended the banking sector remain at the forefront in maintaining and battling the challenges that are facing our economy in partnership with the national treasury.
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CS Commends the Banking Sector
At the same time, the CS commended the sector in partnership with the Central Bank of Kenya for moving swiftly to support businesses that were on the verge of collapsing resulting from the disruption of the trade and supply chain and during the COVID-19 pandemic.
Further, Mbadi went on to highlight one intervention that the national treasury has implemented with the banking sector in supporting lending to MSME’s in the country.
The intervention is called the Kenya Credit Grantee Company.
“Through intervention that was launched in 2020 as an emergency measure with a sit capital of only 3 billion shillings. The intervention provided grantees to support businesses at the height of the devastating effects of COVID-19 and was implemented through Seven banks,” Mbadi affirmed.
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