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

ANTIGUA and BARBUDA, Nov 4 – Deputy President Kithure Kindiki has urged global business leaders to invest in Kenya’s newly established National Infrastructure Fund, promising commercially viable opportunities and significant returns while supporting the country’s development agenda.

Speaking during the Heads of Government and Business Leaders Meeting at the 28th Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda, Kindiki said the fund would provide a platform for public-private partnerships to finance major infrastructure projects.

Kindiki, who is leading Kenya’s delegation at the meeting, said the fund had secured US$2.7 billion in capital, with the government targeting an initial US$27 billion through private-sector investment.

He said the model aims to attract US$10 in private investment for every US$1 committed by the government.

The fund is expected to support the modernisation of roads, expansion of railway networks and upgrades to seaports and airports. It will also finance renewable energy projects to increase electricity capacity for industrialisation.

Kindiki said the fund would further support agricultural transformation through water infrastructure projects aimed at placing an additional 2.5 million acres under irrigation.

He told business leaders that the fund would operate under an independent board comprising public- and private-sector representatives, with investment decisions guided by commercial viability.

The Deputy President also highlighted Kenya’s renewable energy capacity, saying 93 per cent of the country’s electricity comes from clean energy sources, and called for further investment in the sector.

On youth empowerment, Kindiki cited investments in technical and vocational education, digital infrastructure and support for youth-owned businesses.

He said Kenya was targeting 100,000 kilometres of digital infrastructure under the Digital Superhighway programme, with 30,000 kilometres already constructed.

Kindiki also highlighted the importance of investing in people, technology and public-private partnerships, saying these were key lessons for Commonwealth countries seeking to accelerate development.

President William Ruto has agreed to champion youth empowerment and the youth agenda on behalf of the Commonwealth, Kindiki said.

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