Sharp Daily
No Result
View All Result
Wednesday, May 14, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

AfDB Lifts the Kenol-Marua Road Construction Project

Benson Muriithi by Benson Muriithi
April 13, 2023
in News
Reading Time: 2 mins read
Photo/Courtesy

Photo/Courtesy

The African Development Bank (AfDB) has ended its suspension of the Kenol-Marua road project that had been temporarily halted due to allegations of corruption in the procurement process. The project, which is estimated to cost 16 billion Kenyan shillings, is part of the government’s efforts to improve the country’s infrastructure.

The AfDB had suspended funding for the project in February 2021, following claims of irregularities in the awarding of contracts. The bank’s investigation found that the procurement process had not followed the necessary procedures, and that there were issues with transparency and fairness. The suspension was lifted after the Kenyan government took action to address the concerns raised by the bank.

Read: AfDB Withdraws Multibillion Funding For Nakuru Geothermal Plant Over Moi Presence

The project is expected to benefit the local communities by improving transport and connectivity in the region. The road will also provide better access to markets and economic opportunities, which is expected to boost trade and investment in the area. Additionally, the project will create job opportunities for local people during the construction phase.

RELATEDPOSTS

AfDB pulls plug on Kibera Slum Renewable Project amid delays

June 18, 2024

Ruto seeks level playing field for Africa in accessing affordable capital

May 29, 2024

The AfDB’s decision to lift the suspension is seen as a positive development for Kenya’s infrastructure development. The country has been investing heavily in infrastructure in recent years, with a particular focus on transport and energy projects. These efforts are aimed at improving the country’s economic competitiveness and attracting investment.

Read: Last Mile Connectivity Project Revenue Collection Fell Short by Kshs 10.0bn

The lifting of the suspension is also expected to boost investor confidence in Kenya, as it demonstrates the government’s commitment to addressing corruption and improving transparency in public procurement processes. This is crucial for attracting investment and driving economic growth, as investors are more likely to invest in countries that have a strong track record of transparency and accountability.

Notably, the lifting of the suspension on the Kenol-Marua road project is a positive development for Kenya’s infrastructure development and economic growth. The project is expected to provide significant benefits to the local communities, while also boosting trade and investment in the region. The government’s efforts to address the concerns raised by the AfDB are also a positive step towards improving transparency and accountability in public procurement processes.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Affordable Housing Program – A Step in The Right Direction

Next Post

Why Investors Are Undervaluing Banks in Kenya

Benson Muriithi

Benson Muriithi

Related Posts

Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025
News

Butere girls teacher accused of altering play script with political content

April 14, 2025

LATEST STORIES

Structuring private equity deals in Kenya

May 13, 2025

Money market funds: Smart saving and investing in Kenya

May 13, 2025

Kenya in May: Safari, coastline & deals you shouldn’t miss

May 13, 2025

Public Health Spending expected to grow in line with ethical development goals

May 13, 2025

NBA: Knicks, Pacers, Timberwolves near conference finals

May 13, 2025

Lets build roads not rails

May 13, 2025

A KES 6.4 million real estate heartbreak in Syokimau

May 12, 2025

Kenya’s moral commitment amid the rising refugee population

May 12, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024