The Bitumen Exchange Road Infrastructure and Investment Congress took place in Nairobi, Kenya. The show highlighted many key topics within the East Africa region impacting the speed of highway construction including; current major projects, long-term maintenance trends as well as the investment environment impacting investor confidence within the region.
The two-day conference attracted key stakeholders including the Ministry of Transport, Major Road Contractors, International and Local Investors, Bitumen suppliers, as well as major EPC firms.
KEY TAKEAWAYS OF THE EVENT
Payment terms – many contractors are still not being paid in a timely manner even on projects funded by multi-laterals. Some have to go ‘cap in hand’ to government institutions for funds already released by international donors. This has seen firms move operations elsewhere out of East Africa.
As discussed in the Bitumen Exchange localisation research last month, there is a need to educate local resources. This has to go beyond a simple percentage of work being given to indigenous companies (local content). There is a need to build up a local supply chain, and the local contractors association demonstrated that local talent can boost the economy.
Perhaps most surprisingly it was revealed that a significant number of road tenders had not had any parties bid on them over the last 12 months. This not only presents an opportunity for international EPCs, but also highlights the need for forums such as the Road Infrastructure and Investment Congress to foster dialogue. The need to unlock growth in Kenya is real, and only open communication with government can correct shortcomings.
The Road Infrastructure and Investment Congress revealed our 3 Wins Concept that we feel can help foster a better narrative between government, investor and contractors alike. The conference has only reinforced our belief that this approach needs to be adopted in the region. We invite you all to comment and provide feedback in order for the Bitumen exchange to lobby more effectively on the industries behalf.
We would like to take this opportunity once again to thank all of the sponsors, exhibitors, delegates and speakers for supporting the Bitumen Exchange and our Road Infrastructure and Investment Congress. We look forward to seeing and engaging with all of you in the future. Look out for our VIP drinks in Cape Town this June, and our future shows in Africa and Asia.
Natasha Johnson - The Bitumen Exchange Team
“Surprisingly it was revealed that a significant number of road tenders had not had any parties bid on them over the last 12 months. This not only presents an opportunity, but also highlights the need for forums such as the Road Infrastructure and Investment Congress to foster dialogue”
I appreciated this Bitumen Exchange Conference because the focus was on Bitumen and the road paving industry. Therefore it had more relevance to the market segment I actually operate in. I rate this conference to be world class and with it every success in the future.
Please reach out to the Bitumen Exchange Team with your enquiries.