How canceling Adani deal will hurt Kenya; CS Mbadi
Treasury CS John Mbadi now says canceling the Adani, JKIA deal unprocedural will hurt Kenya
Treasury CS John Mbadi now says canceling the Adani, JKIA deal unprocedural will hurt Kenya.
Treasury Cabinet Secretary John Mbadi has expressed that the government and the courts will have to deal with the Adani deal in accordance with the law for the sake of Kenya’s reputation.
While appearing before the National Assembly Committee on Public Investments on Tuesday, September 24, Mbadi pressed that Kenya risked ruining its reputation if terminated the deal without following the law.
He indicated that many investors would start seeing Kenya as a country that is hostile to investors if the deal is not handled unlawfully.
Therefore, he called on all parties involved to be transparent and open.
“The processes need to be clear even if we are terminating so that any investor out there will not treat Kenya as a hostile ground for investment,” he stated.
“We have to be careful. If we do it in a way that will send signals that we are a country of being against investments, then we risk not attracting investments in the future.”
Nonetheless, he maintained that the government would ensure that the interests of the country are catered for in the event of any deal over the airport.
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The CS also called on Kenyans and legislators to allow the relevant institutions tasked with scrutinising the deal to do its work without any preformed assumptions.
“Where we are, I still think it is very preliminary and we should not rule out Adani. We need to give the authorities to look at this matter and process it further,” he added.
The proposed JKIA, Adani deal has caused uproar among Kenyans who have questioned the various clauses of the takeover.
Notably, a lobby group alongside opposition parties such as Wiper and the Jubilee Party moved to court to challenge the deal.
The petitioners want the deal stopped claiming that the government was keen on selling a national asset. A move that has been refuted by President William Ruto.
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