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AIIM invests $34m in Kenya’s Road Annuity Programme
Investors - NOVEMBER 22, 2022

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AIIM invests $34m in Kenya’s Road Annuity Programme

by Released

AIIM, Africa’s largest dedicated infrastructure private equity manager, has committed to invest $34 million into Kenya’s Road Annuity Programme through its pan-African AIIF4 Fund.

AIIF4 has acquired a 74 percent stake in Lots 15 and 18 of Kenya’s Road Annuity Programme from Mota-Engil, and its investment will fund road improvements to reduce travel times, bypass densely populated areas, lower vehicle operating costs, increase fuel efficiency and improve Kenya’s flood resilience.

As most of the transport activity in Kenya occurs on a network of gravel and earth roads, the Government of Kenya (GoK) is aiming to modernize its road network by paving around 10,000 kilometers (6,213 miles) of road across the country. To fund improvements, the GoK has embraced public-private partnership programs to boost investment into its Road Annuity Programme by dividing Kenya’s road network into investable lots.

Lot 15 and Lot 18 were tendered by the Kenya Urban Roads Au

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