EVERSTRONG CAPITAL DELIVERS HISTORIC FEASIBILITY STUDY FOR USAHIHI EXPRESSWAY, MARKING A MILESTONE IN AFRICAN INFRASTRUCTURE PLANNING

Everstrong Capital, an American private equity company based in Nairobi, formally submits Kenya’s most comprehensive and transparent feasibility study to KeNHA, affirming the Usahihi Nairobi to Mombasa Expressway’s full readiness for investment and execution.
The handover marks a comprehensive view of the expressway’s technical, financial, legal, environmental, and social readiness.
This milestone unlocks the next critical phase of the project: moving towards financial closing with U.S. and global investors and development banks leading to the start of construction in early 2026.
The study demonstrates full compliance with Kenya’s PPP framework and sets a new national benchmark for infrastructure transparency.
With KeNHA and the PPP unit of Treasury’s approval, Usahihi Expressway will go from planning to execution, proving it is not just visionary, but ready to be privately financed and built.

Nairobi Kenya, 5 May 2025 – In a defining moment for Kenya’s infrastructure future, Everstrong Capital and Usahihi Expressway Limited today officially handed over the full Feasibility Study for the Usahihi Nairobi–Mombasa Expressway to the Kenya National Highways Authority (KeNHA).

This isn’t merely a formality — it is the transition from vision to execution. The handover is the result of the most rigorous project preparation processes ever undertaken on a privately financed road project on the African continent. More than 2,300 pages of technical, financial, legal, environmental, and economic analysis have been compiled into a single roadmap that outlines not just how to build a road, but how to redefine mobility, trade, and opportunity across East Africa. Usahihi will be a Wealth Corridor that just happens to have a state-of-the-art road going down the middle of it.

The Feasibility Study is the most comprehensive document perhaps ever submitted to KeNHA. It captures the sheer scale of ambition behind the expressway — a project designed to cut travel time between Nairobi and Mombasa from 10-1⁄2 hours to as little as 4-1⁄2 hours, while dramatically improving road safety, unlocking regional trade, and accelerating job creation. From climate risk assessments to stakeholder engagement plans, every chapter of the report reinforces the professionalism, transparency, and long-term thinking driving this partnership.

Kurrent Technologies’ COO Sanjay Gandhi said “We are working with Everstrong to maximize Kenyan content in the Usahihi Nairobi to Mombasa Expressway by developing a Local Content Plan, and partnering with TVETs to create opportunities for youth, women, and persons with disabilities. The project aligns with global sustainability principles and includes Africa’s first wildlife connectivity modeling study to protect biodiversity through underpasses and overpasses. We are also conducting a robust public participation process to ensure inclusive stakeholder engagement, especially with vulnerable and marginalized communities.”

Everstrong Capital, along with lead arrangers JP Morgan and Standard Bank, are organizing US$3.5 billion in equity and debt for Usahihi Expressway Limited. First steps in private financing comes from private investors, US Trade Development Agency and other African development agencies. Further US government support is expected from US Eximbank and US Development Finance Corporation. Collectively, the US government agencies are expected to provide approximately US$1.1 billion for the project. The most unique part of this financing structure is the local debt component of up to US$1 Billion being raised through the Pack Hunters Club, CPF led consortium of key stakeholders in the pensions, insurance, banking and broader long-term financing ecosystem including SACCOs & Islamic finance.

CPF Chairman Hosea Kili commented “This expressway is more than just a road. It is a promise of opportunity, safety, and national growth, serving as a model of a public-private-partnership done right in line with Kenya’s leadership’s commitment to not burden the taxpayers with more debt.”

This promise stands on firm ground. Built at no cost to the government, the Usahihi Expressway will deliver value for money through a U.S.- and internationally backed PPP structure, while simultaneously holding itself to the highest standards of environmental and social governance. This unique project will be built by, invested in, and owned by Kenyans.

Approval of this proposal by KeNHA and the Public Private Partnership unit of the National Treasury will clear the path for Everstrong Capital and its partners to finalize agreements with international investors and lenders. With financial close on the horizon, construction is targeted to begin in Q1 2026, bringing with it not just cranes and cement but tens of thousands of jobs, new commercial opportunities, and a modern transport lifeline that connects the capital to the coast with speed and safety.

Mahesh Punia- Geo-Economist Regional Head Advisory Services – Anderson Global emphasized the precedent being set: “With zero cost to the government, this expressway is in line with the President’s new objectives regarding infrastructure, setting a new benchmark in Kenya — modern, inclusive, and financially smart- additionally attracting over 1 trillion KES in tax revenue to the Government of Kenya.”

“This handover is not just a technical milestone; it is a signal to global investors that Kenya is ready. With our Kenyan government partners, KeNHA, and a world-class consortium of engineers, legal, environmental, and financial experts, we are building a project that meets the highest standards of bankability and impact. The Usahihi Expressway stands as proof that public-private partnerships in Africa can be ambitious, transparent, and investment-grade.” — Amb. Kyle McCarter, Partner at Everstrong Capital & Chairman, Usahihi Nairobi-Mombasa Expressway

The Private Investment Proposal (PIP) submitted by Everstrong Capital has now become a powerful plan, and what was once a dangerous road of congestion is on its way to being transformed into a corridor of safety, efficiency, and prosperity. As the Usahihi Nairobi–Mombasa Expressway moves into its next chapter, it carries with it the momentum of a nation ready to build, connect, and lead the continent in how to deliver affordable, respectful, and quality infrastructure.

Media Contact:
Marieke van Kuppeveld
Communications at Usahihi Expressway
marketing@usahihi.com

About Usahihi Nairobi to Mombasa Expressway
Usahihi, meaning “Done Correctly” in Swahili, is Africa’s largest toll road project, transforming infrastructure between Nairobi and Mombasa. This 459 km, climate-resilient expressway is a Public-Private Partnership, self-financed through tolls, and poses no financial burden on the Kenyan government. With a USD 3.6 billion investment, Usahihi focuses on sustainability, featuring wildlife corridors, electric vehicle charging, and renewable energy infrastructure. The project will create thousands of jobs, reduce travel time from 10.5 to 4.5 hours, and enhance trade, safety, and economic growth in East Africa.

About Everstrong Capital
Everstrong Capital, established in 2015, is a US-owned infrastructure investment manager with a presence in both the US and Kenya, with a focus on advancing sustainable infrastructure development across Africa.

Everstrong Capital initiated the Everstrong Kenya Infrastructure Fund (EKIF), dedicated to financing projects in energy, transportation, communication, and social infrastructure within East Africa and has played a pivotal role in significant infrastructure projects, including its investment in Gulf Power’s Athi River Power project and its founding sponsorship of Milele Energy, an independent power producer holding a 25% stake in the Lake Turkana Wind Project. Everstrong Capital is also assisting SunCode Energy as it enters the African Solar Energy market.