President William Ruto announced that his administration has secured USD1 billion (around Ksh129 billion) for the National Infrastructure Fund (NIF) within the past four months.
Addressing the Africa Forward Summit 2026, jointly hosted with French President Emmanuel Macron, President Ruto confirmed that the funds were collected domestically through Public-Private Partnerships (PPPs).
“Through the creation of the National Infrastructure Fund, a mechanism designed to channel long-term domestic capital into strategic national initiatives, our new fund has attracted approximately USD1 billion in recent months, showcasing the significant potential inherent in African economies,” President Ruto stated.
The Ksh5 trillion initiative, enacted on March 9, aims to transform the country’s approach to funding infrastructure projects by moving away from traditional borrowing from international institutions like the World Bank and the International Monetary Fund (IMF), with the funding period extending over a decade.
With President Macron present at this significant gathering, President Ruto emphasized that this strategy is designed to enhance partnerships where Africa “functions not merely as an aid recipient but as a proactive investor alongside countries such as France”.
He further emphasized that the initiative’s goal involves establishing reliable frameworks that allow private capital to engage safely and profitably in Africa’s development, with Kenya leading through the NIF program.
“As a government, we are intentionally collaborating with the private sector to foster confidence, minimize risks, and attract investment into transformative public infrastructure,” President Ruto explained.
Substantial portions of the Ksh129 billion were generated through the privatisation of , which contributed Ksh106.7 billion, equivalent to roughly USD820 million to the national treasury.
Nevertheless, the Ksh129 billion accumulated so far substantially misses the Ksh2.5 trillion objective that President Ruto established for April.
President Ruto also indicated that the government will utilize NIF resources to “de-risk” private sector ventures, ensuring that when projects generate profits, the government will also be involved in profit-sharing arrangements.
The NIF program will support various projects including the enhancement of Jomo Kenyatta International Airport (JKIA), featuring the development of a new passenger terminal and a 4.8 km runway, alongside building a contemporary airport to reduce dependence on the outdated facility.
Another prominent initiative under consideration is the East African Oil Refinery scheduled for May 11, 2026, with the NIF intending to jointly invest Ksh 2.58 trillion in this venture to mitigate investment risks and share in future earnings.”