New NIF CEO James Mworia backs infrastructure fund listing on NSE

Kenya's newly elected National Infrastructure Fund (NIF) Chief Executive Officer, James Mworia, has expressed support for listing an infrastructure development fund on the Nairobi Securities Exchange (NSE). Mworia, who previously led Centum Investments, contends that a publicly traded NIF Infrastructure Development Fund could attract new investment and provide access to additional financing.

Speaking at Africa Capital Week 2026, Mworia suggested leveraging regulations for Development Real Estate Investment Trusts (D-REITs) to raise money for infrastructure projects. By leveraging these regulations, the fund could create a liquid instrument, enabling investors to buy and sell as needed, thereby addressing the issue of asset-liability mismatch.

Mworia, who assumed his role earlier this week, emphasized his immediate focus on establishing the fund's infrastructure, culture, and project pipeline. The NIF Board, approved by the National Assembly in March, is tasked with raising approximately Sh5 trillion over the next decade to finance infrastructure projects across various sectors, including highways, railways, ports, agribusiness infrastructure, and energy systems.

The fund will utilize both public and private financing sources, including government allocations, private investments, privatisation proceeds, grants, and loans.