NAIROBI, Kenya- Over the past decade, Kenya has emerged as the top beneficiary of funding from the African Development Bank (AfDB) in the East and Central African region.
Data from the pan-African lender reveals that between 2013 and 2023, AfDB approved a total of $3.718 billion for Kenya.
This financial boost places Kenya ahead of neighboring Tanzania, which received $2.83 billion , and Rwanda with $1.81 billion.
The AfDB’s substantial contributions have significantly impacted various sectors in Kenya, including energy, road construction, and water infrastructure.
Notable projects funded by AfDB include the 300-megawatt Lake Turkana Wind Power Project, Africa’s largest wind farm, and the ongoing Last Mile Connectivity electricity project.
Additionally, the dualing of the Kenol-Sagana-Marua Road, valued at Sh16.7 billion, is another key project backed by AfDB funds.
“Approvals for East Africa amounted to UA 2.29 billion, or 29 percent of total approvals, a substantial increase of 37 percent over the UA 1.67 billion in 2022,” states AfDB’s annual report for the previous year .
Kenya’s relationship with AfDB has grown stronger since 2013, particularly during the administration of former President Uhuru Kenyatta.
In 2016, Kenya saw its highest funding year with $823.26 million from AfDB. This financial support has positioned AfDB as a crucial development partner for Kenya, alongside other major financiers like the World Bank and the International Monetary Fund (IMF).
AfDB, exclusively lending to African nations, aims to reduce Africa’s dependence on international financiers.
The lender’s funding comprises grants, loans, guarantees, and a Transition Support Facility for weaker economies. Notably, the continent holds a 60pc share in AfDB, with the remaining 40pc owned by countries like the US, Japan, and India .
While AfDB’s funding has catalyzed significant development in Kenya, it has also led to increased scrutiny and accountability measures.
Several local firms have faced bans for up to three years due to corruption and unethical practices in securing tenders.
Among the banned firms are Beta Trading Company, Global Interjapan (Kenya) Limited, Eva-Top Agencies, and Madujey Global Services.
AfDB’s commitment to transparency and integrity ensures that its funds are utilized effectively, promoting sustainable development across its member states.
