Promoters of the Sh45 billion Kabarak Hospital in Nakuru say they will not immediately release financing details of one of the largest private sector projects in Kenya’s history, hinting that not all donors would be happy with the limelight.
US-based private equity firm Sygec International will be among the chief financiers but details of other donors and the breakdown are yet to be made public.
Kabarak University, the brainchild of former President Daniel arap Moi, is partnering with the international organisation to develop the 500-bed modern university teaching, research and referral mission hospital.
The acting vice-chancellor of the Kabarak University Henry Kiplangat who is the secretary of the task force committee spearheading the project, said his committee would release information on the project at an “appropriate” time.
“Not every donor wants to be known but I assure you we will give you the information when we are ready,” Dr Kiplangat told the Business Daily.
However, he said the taskforce committee would keep the public updated on every stage of the development of the project. “We will definitely keep you and the public in the picture because this is a project meant for the public,” he said.