According to Star on March 25th, Usahihi Expressway Limited, the developer of the Nairobi Mombasa highway, announced that they expect to complete the feasibility study of the project in May, marking another step towards the start of this public-private partnership project. Feasibility study is an evaluation of the feasibility of a project or system, aimed at revealing the pros and cons of proposed initiatives, including environmental impacts and personnel placement issues. The company signed an agreement in February to raise 129.3 billion shillings (approximately $1 billion) from local banks and pension funds, which is a crucial step in the development of the Usahihi Expressway project. This 440 kilometer toll highway is planned to reduce travel time between Nairobi and Mombasa from over 8 hours to 4.5 hours. CPF Capital and Advisory has been selected to provide trading advisory and placement services for the project, with an expected fundraising of 129.3 billion shillings (approximately $1 billion) from the domestic market by the end of the year. This American company will also provide 12.9 billion shillings (approximately $100 million) for the acquisition of land along the route, which will provide some landowners with the opportunity to convert their property into road equity at a return rate of 17.5%.
