Kenya seeks private capital to expand transport and energy infrastructure

Speaking during the Commonwealth Heads of Government Meeting (CHOGM) executive retreat, Kindiki urged investors to back the fund, saying it would finance transp

“This fund has already secured capital of US$2.7 billion, and this secured capital aims at subsidizing private sector investment. For every dollar, we expect to raise ten dollars from private investment,” he said.

Kindiki said the fund had been established through legislation and was governed by an independent board whose members are predominantly drawn from the private sector.

He said it would operate commercially, with public resources helping to underwrite risks faced by private investors.

“The National Infrastructure Fund is a good place to invest. It has a good governance structure, combining skills and talents from both the public and private sectors, with the private sector being the majority,” he said.

According to the Deputy President, the fund will support the expansion of Kenya’s highways and railway network, alongside the modernisation of airports and seaports.

Source: Citizen Digital