What do you believe is the single most important factor driving up the cost of living in Nigeria?

Kenya Aviation Workers Union Secretary General Moss Ndiema addresses the press in Nairobi. [Wilberforce Okwiri, Standard]

If Adani Holdings secures the rights to manage and operate Jomo Kenyatta International Airport (JKIA) under a proposed 30-year agreement, Kenyans face an extra tax burden because of new loans agreements.

A proposal, submitted by Adani through a Privately Initiated Proposal (PIP) to the Kenya Airports Authority (KAA), a copy of which The Standard has in its possession, suggests direct new agreements with lenders, whose burden to repay will rest on the shoulders of the taxpayer after Adani takes over JKIA.

“The contracting authority (KAA) will be responsible for the outstanding debt and must secure the concessionaire’s equity investment,” Adani stated in the proposed agreement.

While the deal advocates direct new loan agreements between KAA and lenders, the government will assume obligations of a guarantor and ensure the concessionaire’s equity investment.

• Read More