Kenya's new $2.62 billion infrastructure fund is already putting money to work

Kenya's government borrows heavily, and debt payments eat about 40% of its revenue — leaving little for roads, power, and water. The new National Infrastructure Fund, created by an act of parliament in March 2026, is designed to break that trap. With KSh 340 billion (about $2.62 billion) in seed capital from the Kenya Pipeline privatization and a partial Safaricom sale, the fund has begun buying domestic government bonds — freeing up bank lending for businesses and households — and expects the portfolio to generate about KSh 42 billion (about $324 million) a year. Over the next decade, it aims to mobilize KSh 3.6 trillion (about $27.7 billion) for commercially viable projects in energy, transport, water, and agriculture.