Treasury eyes PPP deals with disclosure portal
The government is keen on bringing on board more private sector stakeholders into the infrastructural projects funded under public-private partnerships (PPPs) with the launch of a new public disclosure portal.
The platform is expected to give an updated account on all the PPP projects in the country for the benefit of all stakeholders by creating transparency in a bid to build investor confidence.
Speaking during the launch of the PPP disclosure portal, National Treasury cabinet secretary Henry Rotich said the platform would offer a greater scope of information to the public on the status of public-private partnerships which he expects to in turn result in greater intrigue in the collaboration.
“Public-private partnerships will play a big role in the government development agenda as the government seeks to roll out critical infrastructure and increase access to government services. It is fitting that we are doing these at a time when our country is transforming into a sustainable middle-income economy, a vision that is heavily driven by infrastructure,” Mr Rotich said.
With the government stretched thin in use of public resources, PPP deals are expected to give the government headroom to fund infrastructure projects. Kenya currently has an infrastructure financing deficit of an estimated Ksh200 billion (USD2 billion) per year.
There has been greater push on the government to provide transparency on finance agreements to ensure public funds are adequately accounted for.
“This is our commitment under the access to the information act of 2016 and a demonstration to remain accountable to the people of Kenya for the efficient utilization of their resources for their benefits,” he said.
Key players in the private sector have embraced the new innovation.
KCB Group chief executive officer Joshua Oigara said the initiative demonstrates the government’s commitment to partner with the private sector to finance projects.
“The portal demystifies public-private partnerships by reinforcing the capacity of local partners in the financing of government led projects,” he said.
The World Bank welcomed the move saying this will level the playing field for all investors seeking to partner with government in development projects.
The government crafted the public private partnerships framework in 2011 and have so far been utilised in the contracting of a variety of projects which include the construction of the Lamu-Garissa-Isiolo highway and the development of the Lamu port.
The launch of the PPP disclosure portal come just days after President Uhuru Kenyatta issued a directive to all ministries and state agencies to disclose details on all awarded tenders in a move geared at accelerating the war on graft within the public sector.
For Citizen TV updates
Join @citizentvke Telegram channel
Video Of The Day: CBK\'s guidelines on how to return 1000 notes