National Treasury CS John Mbadi has confirmed that no tax exemptions will be granted to Adani Holdings if they secure the JKIA upgrade deal. Addressing the National Assembly’s Debt Committee, Mbadi stated that the request for a 30-year tax relief from the Indian conglomerate will undergo a cost-benefit analysis before any decisions are made. He emphasized that no final agreement has been reached, and other interested parties can still bid, pending the court’s decision.
Mbadi noted the government’s effort to negotiate with Adani, reducing their proposed earnings from 18% to 16%. The deal is being considered due to Kenya’s financial challenges, with the Kenya Airports Authority (KAA) facing a Sh4 billion loss during the COVID-19 period. The CS also acknowledged the need for better communication with the public regarding the deal, citing issues of secrecy.
