Dr James Mworia has been appointed the first Chief Executive Officer of the National Infrastructure Fund (NIF), as the government moves to set up the institution expected to play a major role in financing large infrastructure projects.
The NIF board announced on Monday, September 7, that Mworia’s appointment took effect immediately after he emerged from a competitive recruitment process.
Mworia will serve for four years, with the possibility of being appointed for another term by the board.
He brings more than 25 years of experience in investment management, enterprise development and capital allocation. He has also served as a Group Chief Executive Officer and Managing Director for the past 17 years.
His appointment comes about two months after the NIF board opened applications for the CEO position as it worked to put in place the leadership of the KSh5 trillion fund.
As the founding CEO, Mworia will be expected to oversee the setting up of the Fund’s operations, including its systems, governance structures, investment and risk management frameworks.
He will also lead efforts to identify viable infrastructure projects, bring in co-investors and guide priority projects through assessment, financing arrangements and implementation.
The NIF was established under the National Infrastructure Fund Act, 2026, with the government seeking to increase investment in infrastructure while bringing in more private capital and other sources of financing.
The Fund is expected to help reduce reliance on public borrowing for commercially viable projects. Its focus will include transport and logistics, energy, ICT, water and agriculture.
The Fund will use a capital-recycling approach, where successful investments can later move into long-term ownership or the capital markets. Money raised from the sale of such assets will then be used to support other infrastructure projects.
So far, the NIF has mobilised about KSh350 billion through partial sales of government stakes in state-owned assets.
Mworia’s appointment now gives the Fund its first substantive CEO as it moves towards becoming fully operational.
