The International Finance Corporation (IFC) is investing $1.3 million (Sh130 million) in an advisory project that will see it help small and medium sized firms boost their skills to win road construction contracts.
The companies will learn how to bid for contracts and manage their operations in a training that will also involve public and private sector players including the transport ministry, the National Construction Authority and other state agencies.
“The project is expected to enable local road construction sector SMEs to bid and win more contracts in public sector road construction, rehabilitation and maintenance, and improve SME project execution in the road sector,” IFC said in a project disclosure statement.
“The project will contribute to improving road construction sector SME performance and competitiveness, increasing their sales revenues, job creation and growth.”
IFC says working with several government agencies will address the fact that 80 per cent of road contractors hold licences to operate in other sub-sectors of the construction industry including buildings, water and sanitation works.
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