Expressway tops dealmaking during the Kenya State Visit

President of Kenya, H.E. William Ruto, unveils the Usahihi Nairobi to Mombasa Expressway, during his visit with the President of the United States, Joe Biden, while visiting the White House on Thursday the 23rd of May 2024.

The Usahihi expressway is the largest toll road project in Africa and envisions a transformative symbol of Kenya’s dedication to transparent and innovative infrastructure development, serving as a testament to the strengthened partnership between the United States and Kenya.

Everstrong Capital signed the Project Development Agreement (PDA) with Kenya Highways Authority (KeNHA), authorizing the full development rights to Everstrong Capital and its partners.

Usahihi will pay for itself, not burdening the Government of Kenya. It is structured as a Public Private Partnership with revenue coming from road users. Usahihi will organize finance, construction, tolling, operation, and maintenance of the expressway under a 30-year concession with construction lasting 3-4 years.

The Usahihi expressway has garnered significant attention from an array of lenders and investors. The investment of USD 3.6 billion will be led by American Development Finance Institutions and significant investments from Kenyan private sector investors and pension funds.

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