Which is why we must make sure that the rules and best practice governing procurement of concession of public assets apply. This was because the terms of the relationship and benchmarks for performance were clearly stipulated in a document known as a ‘concession agreement. A concession agreement is where you spell out the concession fees which the private party will pay. Hand over for freeOr are we planning to hand over the sugar companies to private individuals for free? In the railway concession transaction, all these issues were negotiated and spelt out in the concession agreement.

Source: Daily Nation August 25, 2020 21:07 UTC