Principal Secretary, The National Treasury, Republic of Kenya Chris Kiptoo has maintained that National Infrastructure Funds (NIF) are a transformative financing vehicle.
The Ps said this on Tuesday after he joined Cabinet Secretary John Mbadi while he appeared before the Joint Departmental Committees on Finance and National Planning, chaired by Hon. Kimani Kuria (MP Molo) & Public Debt and Privatisation, chaired by Hon. Abdi Shurie (MP Balambala).
He noted that the funds are designed to mobilize and support the youth’s long term capital for development.
He added that globally, National Infrastructure Funds have reshaped investment landscapes by accelerating the shift from debt heavy public financing toward blended, investment led models that are sustainable, efficient, and market driven.
“Through the NIF, Kenya seeks to mobilise KSh 5 trillion by unlocking domestic savings, strategically monetising mature public assets, democratising ownership through capital markets, and deploying national savings for development,” he added.
He argued that the proceeds from privatisation will be ring-fenced and invested through the Fund to preserve and grow national value.
This is an innovative and sustainable approach to financing commercially viable infrastructure that supports growth, jobs, and long-term prosperity. “
Proceeds from the planned divestiture of Safaricom shares will provide seed capital for the National Infrastructure Fund, anchoring a new era of investment led development for Kenya,”he said.
