President William Ruto has appointed Treasury Cabinet Secretary John Mbadi as the Chairperson of the newly established National Infrastructure Fund Governing Council.
In a statement released on Wednesday, April 1, Head of Public Service Felix Koskei confirmed the appointments, noting that they follow the enactment of the National Infrastructure Fund Act, 2026.
Koskei said the creation of the fund marks a major shift in Kenya’s development strategy, moving away from heavy reliance on public debt toward an investment-led model aimed at attracting private capital for infrastructure projects.
“The establishment of the Fund is a transformative step in the nation’s journey towards inclusive development,” the statement read.
According to the announcement, statutory members of the Governing Council include Central Bank Governor Kamau Thugge and Attorney-General Dorcas Oduor.
The council also includes independent members such as Prof. Benedict Oramah, former President of Afreximbank, alongside governance and financial experts drawn from across the region.
The council’s first task will be to oversee the recruitment of the fund’s board of directors, who will in turn appoint a Chief Executive Officer to operationalize the institution.
Mbadi has previously defended the fund, dismissing claims that civil servants would finance it through salary deductions.
He clarified that the seed capital will come from proceeds of privatization of state-owned enterprises, including Kenya Pipeline Company and potentially other major assets.
He further argued that the fund could help ease fiscal pressure and support long-term economic stability by reducing reliance on taxation and public debt.
The establishment of the National Infrastructure Fund is expected to play a key role in financing large-scale development projects across the country.
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