Chivayo Firm Secures Stake in US$2.9 Billion JKIA Expansion Deal
Staff Reporter
Zimbabwean businessman Wicknell Chivayo’s company, IMC Construction Kenya, is part of a consortium awarded a stake in the US$2.9 billion expansion of Kenya’s Jomo Kenyatta International Airport (JKIA), according to a report by ZimLive.
ZimLive reported that state-owned China Communications Construction Company (CCCC) brought in its subsidiary, China Road and Bridge Corporation (CRBC), and IMC Construction Kenya as joint venture partners on the project.
Kenya is expected to contribute US$1.3 billion towards the US$2.9 billion development, with the remainder financed through local and Chinese banks. To address funding constraints that had previously delayed the project, the country established the National Infrastructure Fund using revenues from the privatisation of the Kenya Pipeline Company.
According to specifications released by the Kenya Civil Aviation Authority in February, the expansion will add capacity for an additional 15 million passengers annually through the construction of a new terminal.
The project also includes a new runway scheduled for completion by 2029, which is expected to increase airfield capacity from 14 to 63 aircraft movements per hour. JKIA currently handles nearly 8.8 million passengers annually, above its original design capacity of eight million.
ZimLive said the tender had initially been awarded to India’s Adani Group in 2024 before being cancelled and re-advertised earlier this year. The CCCC-led consortium was subsequently selected following a competitive bidding process.
The US$2.9 billion deal marks a further expansion of Chivayo’s business interests beyond Zimbabwe. According to ZimLive, his companies have secured several infrastructure and energy contracts in Zimbabwe, including a US$173 million contract for the Gwanda solar power plant, US$163 million to revamp Munyati Power Station and US$131 million for the 30MW Gairezi hydro power station.
IMC Construction is also involved in the construction of two five-star hotels in Tanzania’s Serengeti and Ngorongoro regions, reportedly valued at US$200 million.
The JKIA expansion comes as countries across the region continue investing in aviation infrastructure to accommodate growing passenger demand. Rwanda is developing Bugesera International Airport, Tanzania has expanded capacity at Julius Nyerere International Airport in Dar es Salaam, while Ethiopia broke ground earlier this year on a new airport at Bishoftu designed to handle 110 million passengers annually.