Kenyan President William Ruto announced that the nation's new National Infrastructure Fund (NIF) has successfully mobilised approximately USD1 billion (Ksh129 billion) in its first four months, a significant step in shifting infrastructure funding away from external lenders.

• Mobilised USD1 billion (Ksh129 billion) in four months from domestic sources via Public-Private Partnerships (PPPs).
• The initiative spearheaded by President William Ruto aims to fund strategic national projects over 10 years.
• Key projects include the expansion of Jomo Kenyatta International Airport (JKIA) and the development of the East African Oil Refinery.

The Kenyan government will invest public funds from its National Infrastructure Fund (NIF) into a new Ksh 2.58 trillion oil refinery planned for East Africa, associated with Nigerian businessman Aliko Dangote.

• The Kenyan government plans to use NIF funds to co-invest in the refinery, aiming to de-risk the project and share in future profits.
• President William Ruto announced the investment, stating it will be sourced from the NIF, a Ksh 5 trillion infrastructure vehicle.
• The oil refinery project is estimated to cost USD 20 billion (Ksh 2.58 trillion) and may be located in Mombasa.