Speaking during a Methodist Church leadership event held at State House in Nairobi on Friday, February 20, the president revealed that Kenya expects to mobilise Ksh2.5 trillion by April this year.
The amount represents half of the total Ksh5 trillion target set for the ambitious infrastructure financing programme.
According to the head of state, the government has already begun the process of sourcing the funds and remains confident that the initial milestone will be achieved within the next few months.
“We have already started the journey to obtain Ksh5 trillion, and by God’s grace, and by the fourth month of this year, we would have raised half of that money,” Ruto stated during the event attended by religious leaders.
The remaining Ksh2.5 trillion will be raised gradually over a ten-year period, making the fund a long-term financing strategy designed to support Kenya’s development agenda.
President Ruto explained that the plan will avoid excessive borrowing and instead focus on alternative financing mechanisms that will not increase pressure on the country’s public debt, which currently stands at around Ksh12 trillion.
To help raise the funds, the government plans to partially privatise several state-owned enterprises.
According to the head of state, the government has already begun the process of sourcing the funds and remains confident that the initial milestone will be achieved within the next few months.
“We have already started the journey to obtain Ksh5 trillion, and by God’s grace, and by the fourth month of this year, we would have raised half of that money,” Ruto stated during the event attended by religious leaders.
The remaining Ksh2.5 trillion will be raised gradually over a ten-year period, making the fund a long-term financing strategy designed to support Kenya’s development agenda.
President Ruto explained that the plan will avoid excessive borrowing and instead focus on alternative financing mechanisms that will not increase pressure on the country’s public debt, which currently stands at around Ksh12 trillion.
To help raise the funds, the government plans to partially privatise several state-owned enterprises.
Among the companies being considered are Kenya Pipeline Company and East Africa Portland Cement Company. The partial sale of these entities is expected to generate approximately Ksh350 billion upfront.
In addition, the administration plans to tap into long-term capital from pension funds, insurance companies, and international development finance institutions. These investments will be directed toward large-scale infrastructure projects across the country.
The president noted that the government is shifting from traditional borrowing and tax-heavy models to an investment-driven approach aimed at attracting institutional investors into public infrastructure.
Key projects expected to benefit from the NIF include the extension of the Standard Gauge Railway to Malaba and the modernisation of Jomo Kenyatta International Airport, both considered critical to improving Kenya’s regional trade and connectivity.
Ruto added that the initiative aligns with his broader vision of transforming Kenya’s economy and positioning the country as a competitive global hub for investment and development.
Alongside the National Infrastructure Fund, the government also plans to establish a Sovereign Wealth Fund that will manage royalties from natural resources and dividends from public investments, helping create a financial cushion for future generations.
The proposed fund will operate as a limited liability company and will be overseen by a competitively appointed board and chief executive officer to ensure transparency and independence from political influence.
In addition, the administration plans to tap into long-term capital from pension funds, insurance companies, and international development finance institutions. These investments will be directed toward large-scale infrastructure projects across the country.
The president noted that the government is shifting from traditional borrowing and tax-heavy models to an investment-driven approach aimed at attracting institutional investors into public infrastructure.
Key projects expected to benefit from the NIF include the extension of the Standard Gauge Railway to Malaba and the modernisation of Jomo Kenyatta International Airport, both considered critical to improving Kenya’s regional trade and connectivity.
Ruto added that the initiative aligns with his broader vision of transforming Kenya’s economy and positioning the country as a competitive global hub for investment and development.
Alongside the National Infrastructure Fund, the government also plans to establish a Sovereign Wealth Fund that will manage royalties from natural resources and dividends from public investments, helping create a financial cushion for future generations.
The proposed fund will operate as a limited liability company and will be overseen by a competitively appointed board and chief executive officer to ensure transparency and independence from political influence.
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