Two years after Kenya’s deal with India’s Adani Group to modernise Jomo Kenyatta International Airport collapsed, the state-owned China Road and Bridge Corporation (CRBC) has won a US$1.2 billion contract to do just that.
The same pattern played out when France’s Vinci lost a major highway deal in Kenya and CRBC took over as developer alongside another Chinese firm. Under the original 30-year concession, the national government would bear all the risk in the deal, raising public cost…
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