EFFECTS OF PUBLIC PRIVATE PARTNERSHIPS FRAMEWORKS ON PERFORMANCE OF PUBLIC PRIVATE PARTNERSHIP ROAD PROJECTS IN KENYA
Abstract
This study sought to examine the effect of public-private partnerships frameworks on the performance of Public Private Partnership Road Projects in Kenya. Specifically, the study examined the effect of capital markets framework, stakeholder management framework and Government Policy on the performance of Public Private Partnership Road Projects in Kenya. The study used both exploratory and descriptive research designs to study the problem. The population of the study was One Hundred and eleven organizations involved in the road sector PPPs either as regulators, project implementers, financiers or as interest groups involved in PPP Project process. The study was a census of the entire population since the population was not homogenous in character. A self-administered, semi-structured questionnaire was used to collect the data. Data was analyzed and descriptive statistics presented, from which inferences were made as well as the conclusion and recommendation. The collected data was analyzed using descriptive and inferential statistics. Descriptive statistics included the mean, median, standard deviation and frequency distribution while inferential statistics involved use of correlations and regression analysis. The study established that from the regression model the Capital Markets Framework and Stakeholder Management Framework had a significant and positive influence on the Performance of public private partnerships in road projects in Kenya. Further, the government policy had a moderating influence on the relationship between PPPs framework and performance of public private partnerships in road projects in Kenya. The study recommended that impact of reforms on PPP program to improve liquidity and deepening of the capital markets, which would be an enabler in the PPP rollout program. It is important that the Government formulates a proper procedure of investor selection and market sounding which is transparent, fair and competitive. The government should consider capacity building the public and private partnership unit to enable it become an excellent service delivery unit. This would enable the government develop excellent and more robust policies that meet the necessities of PPP projects.
Keywords: Capital Markets Framework, Stakeholder Management Framework, Performance of public private partnerships in road projects
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i1.617
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