Companies seeking to secure the multi-billion-shilling contract to modernize and expand Jomo Kenyatta International Airport (JKIA) will be required to demonstrate access to at least KSh100 billion in liquid assets or equivalent financial resources, according to requirements outlined in the project’s tender documents.
The financial threshold is among the key conditions set for bidders and is intended to ensure that only firms with sufficient capacity can undertake one of Kenya’s largest infrastructure projects.
Under the requirements, interested contractors must provide evidence of access to liquid assets, debt-free real assets, credit facilities, or other financial resources accumulated within the last six months. The resources must be adequate to sustain the project’s cash flow needs without relying on advance payments from the government.
Deferred Payment Model
The government has also adopted a deferred payment arrangement that will require the successful contractor to finance a significant portion of the project before receiving full payment.
According to the tender terms, the winning bidder will receive an initial payment equivalent to 10 percent of the contract value after submitting the required bank guarantee.
A further 20 percent will be paid once the project reaches the halfway mark or after 18 months, whichever occurs later.
Another 25 percent will be released upon project completion and handover, while the remaining 45 percent will only be paid after the defects liability period has ended and a performance certificate has been issued.
To participate, bidders must formally confirm their acceptance of the deferred payment structure through a signed commitment letter addressed to the accounting officer of the procuring entity.
Additional Requirements
Prospective contractors will also be required to submit a KSh2.5 billion tender security, valid for 210 days from the date the bids are opened.
Other mandatory documents include a valid National Construction Authority (NCA) registration certificate and practicing licence, a certificate of incorporation confirming legal registration in Kenya, and a valid tax compliance certificate issued by the Kenya Revenue Authority (KRA).
Companies must further provide a current CR12 document detailing ownership structures and a legally witnessed power of attorney authorizing the individual signing the tender documents.
Participation in pre-bid meetings and site visits has also been made compulsory. A qualified engineer or architect representing the bidder must attend the sessions and submit a signed site visit certificate as part of the application.
Project Under Public Scrutiny
The JKIA expansion project has attracted significant public attention over the past year, largely due to debates surrounding procurement and financing arrangements.
Earlier plans involving India’s Adani Group generated widespread controversy before the proposal was eventually dropped.
More recently, allegations emerged linking Zimbabwean businessman Wicknell Chivayo to the airport project, prompting renewed public debate over transparency in the procurement process.
However, Transport Cabinet Secretary Davis Chirchir dismissed the claims, stating that the procurement process remains ongoing and that the company mentioned in the reports has no connection to the tender.
“We wish to clarify that the company referred to in those reports did not participate in this procurement process as a bidder and has no role, involvement or association whatsoever with this project,” Chirchir said.
He added that the firm is not among the contractors that submitted bids for the airport modernization project.
The JKIA expansion is expected to significantly increase passenger handling capacity, modernize airport infrastructure and strengthen Kenya’s position as a regional aviation hub once completed.
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