The head of the United States government agency that helps private businesses invest in developing countries is wooing Kenya to award the contract for construction of Sh300 billion Nairobi-Mombasa expressway to American engineering firm Bechtel.
Ray Washburne, the President and CEO of the US Overseas Private Investment Corporation (Opic) on Tuesday said Bechtel would “provide value for money” in the multi-million dollar project.
“Whether it’s transportation, digital networks, or value chain, reliable connectivity has the power to transform emerging market economies,” Mr Washburne, who arrived in Kenya over the weekend, said.
He added: “And, the American private sector has the ability to play a huge role in this growth by bringing critical investment, value, and American business practices.”
Washburne came to Kenya to explore investment opportunities for US private companies amid China's increasing influence in Africa.
His tour to Kenya is part of a six-nation trip in Africa as Opic, through the new Connect Africa initiative, plans to invest more than $1 billion in transportation, technology and value chains in the continent.
“Africa is a long-standing priority for Opic and accounts for about one-quarter of the agency's $23 billion global portfolio. With the new Connect Africa initiative, OPIC will focus on investments that will foster a more connected and prosperous future for Kenya and all of Africa,” said a statement from Opic
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