Kindiki woos global investors to Kenya’s National Infrastructure Fund at CHOGM

Deputy President Kithure Kindiki has called on global investors to back Kenya's new National Infrastructure Fund, unveiled at the 28th Commonwealth Heads of Government Meeting (CHOGM) in Antigua and Barbuda. The fund, promising lucrative returns while advancing Kenya's development goals, seeks to attract US$27 billion in private investment, backed by a US$2.7 billion initial capital infusion.

Kindiki, currently leading Kenya's delegation at CHOGM, highlighted the fund's potential to finance essential infrastructure projects, including roads, railways, seaports, airports, and renewable energy initiatives. The fund aims to expand Kenya's electricity capacity through agricultural transformation projects, targeting an additional 2.5 million acres under irrigation.

Underpinning the fund's operations will be an independent board, composed of both public and private sector representatives, who will steer investment decisions based on commercial viability. Kindiki also underscored Kenya's commitment to renewable energy, citing that 93% of the country's electricity is sourced from clean energy.

He called for further investment in this sector. Additionally, Kindiki touched on youth empowerment, underscoring the government's focus on technical education, digital infrastructure, and support for youth-owned businesses. With the Digital Superhighway programme already seeing 30,000 kilometres of digital infrastructure completed out of the 100,000 kilometres target, Kindiki emphasized the importance of investing in people, technology, and public-private partnerships.

President William Ruto has pledged to champion the youth agenda on behalf of the Commonwealth, according to Kindiki.