Billionaire Peter Munga, founder of Equity Bank and one of Kenya’s most powerful businessmen, has emerged at the heart of the Sh468 billion Nairobi-Mombasa expressway project — a development previously billed as a purely foreign-backed venture.

Munga, through his family-linked company Quickpass Ltd, has entered into a secretive 50-50 joint venture with US-based Everstrong Capital to build and operate what is set to become Africa’s largest toll road. The expressway, stretching 440 kilometers, promises to cut travel time between Nairobi and Mombasa to under five hours.

But while the headlines have celebrated foreign investment, documents now reveal that the true story lies in Muthaiga — at Munga’s personal office, where Quickpass is headquartered. The company’s directors include his son Alex Kieme Munga, daughter-in-law Emilly Kanina, and close associates, effectively making it a Munga family enterprise.

This backdoor deal gives Munga a direct pipeline to billions in toll revenue over the 30-year Build-Operate-Transfer (BOT) period. Yet no public disclosures have clarified Quickpass’ exact role in construction, operations, or revenue collection — raising questions of transparency and public accountability. 

Even more troubling is the involvement of Everstrong Capital, a firm registered in Mauritius — an offshore tax haven known for financial opacity. Its actual ownership remains shielded, with additional board members including former US ambassador to Kenya, Kyle Lee MC Carter, and Kenyan businessman Henry Kyanda.

Despite the project’s massive public interest, the PPP committee had initially rejected the proposal for “failing to meet key criteria,” further amplifying concerns over due diligence and governance.

With Kenya increasingly relying on Public-Private Partnerships (PPPs) to drive development, Munga’s involvement in this colossal project underlines a growing trend of elite domination, where infrastructure is emerging as a lucrative avenue for private enrichment. By Vincent Olando, KDRTV