The Chairperson of President William Ruto’s Council of Economic Advisors (CEA), David Ndii, has revealed that Indian conglomerate Adani Group was handpicked by United Arab Emirates (UAE) financiers.
In a series of posts on X, Ndii said the UAE was funding the Jomo Kenyatta International Airport (JKIA) facelift project.
Further, Ndii addressed growing backlash over the government’s lack of open tendering in awarding the infrastructure project, saying critics were missing the bigger picture.
“We did not nominate Adani. The financiers (UAE) did. They are shareholders. China-financed projects go to their companies, and we don’t seem to have a problem with that,” Ndii stated.
In February, the government concluded a Ksh193 billion loan deal with the United Arab Emirates, with reports indicating that the deal included JKIA renovation.
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Ndii Explains Why Govt Did Not Bid for Other Developers
Additionally, Ndii explained that Kenya’s financial situation was too fragile for the usual competitive bidding process for JKIA renovations to be practical.
“Markets had priced default on our bond. Where was a ‘winner’ going to raise debt?” he questioned.
He noted that in typical Public-Private Partnership (PPP) deals, private firms bid for the project, win, and then try to raise the money needed to deliver.
However, with Kenya’s high debt risk, raising affordable financing was nearly impossible.
“If you award, and the proponent fails to reach financial close, or finance is too expensive, back to square one,” Ndii warned.
Instead of risking that delay, Ndii says the government made a call to lock down financing first, then proceed with the partner proposed by the funders.
“That is why we chose to secure finance first, because we knew market debt would be difficult. “China-financed projects go to their companies, and we don’t seem to have a problem with that,” he added.
Also Read: Arrest Warrant Issued Against Adani After Ruto Cancelled Deal
Raila Regrets Govt Cancelling Adani Deal
While speaking on the second day of 2025 executive retreat on June 21, former prime Minister Raila Odinga expressed disappointment over the cancelled Adani deal.
According to him, Kenya missed an opportunity to upgrade the Jomo Kenyatta International Airport (JKIA) into a major continental hub.
Speaking publicly for the first time about the controversial deal, Raila said the project would have significantly boosted Nairobi’s status as a regional economic powerhouse.
“I was very disappointed when we were not able to move on with the airport contract; that was very unfortunate,” he said.
In addition, he explained that the original JKIA expansion plan was initiated during his tenure as Prime Minister but was later cancelled after the grand coalition government left office, saying it remains a key infrastructure priority if Kenya is to position itself as Africa’s aviation leader.
The Adani-led multi-billion-shilling deal was cancelled in 2024 following public criticism and concerns over transparency.
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David Ndii all what you are saying is nonsense ,why you did not reveal all these information at that time.