Kenya Launches $38.8 Billion Infrastructure Push
Kenya Launches $38.8 Billion Infrastructure Push
Kenya has taken a major step toward long-term economic transformation with cabinet approval of two landmark national funds:
1⃣ $38.8 billion National Infrastructure Fund (NIF) approved as a limited liability company to mobilize and deploy capital into high-priority infrastructure projects.
"Approved as a limited liability company, the National Infrastructure Fund will serve as the central engine for aligning the administration's financial resources with national development priorities."
2⃣ Sovereign Wealth Fund (SWF) approved to mobilize local resources and strengthen Kenya’s financial standing through disciplined, long-term savings.
How the funds will work
🟣Use creative financing, not traditional taxation
🟣Tap domestic resources, national savings, and sale of mature public assets
🟣Attract foreign investors via capital markets
🟣All privatization proceeds strictly reserved for infrastructure
🟣SWF to manage revenues from minerals, petroleum, public investment dividends, and part of privatization proceeds
🟣Focus on inter-generational savings to preserve national wealth
Key development priorities
Food security:
50 mega dams, 200 mini-dams, 1,000+ micro dams
2.5 million new acres under irrigation
Transport & logistics:
Dualization of 2,500km of highways
28,000km of roads tarmacked
SGR extension to Malaba
Expansion of oil pipelines
Major revamps of Mombasa and Lamu ports and airports
Energy & industry:
Add 10,000MW in seven years
Power manufacturing, digital economy, e-mobility, and emerging technologies
Leverage geothermal, hydro, solar, wind, and nuclear potential
Governance
Both funds to be professionally and independently managed
NIF overseen by a competitively appointed board and CEO
SWF guided by a robust policy framework
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