Kenya’s cabinet has greenlit the creation of an infrastructure fund and a sovereign wealth fund to finance key projects, such as roads and power plants, and reduce public borrowing pressure.
President William Ruto announced the move in October, aiming to invest in crucial sectors without exacerbating public debt.
The funds will be professionally managed, transparent, and open to investors, including pension funds and private equity firms.
Initial capital will come from the sale of a 15% stake in Safaricom and a planned share sale in Kenya Pipeline Company.
The funds will also support electricity generation, targeting 10,000 megawatts to drive industrialization.
