In a significant shift, Kenya's National Treasury Cabinet Secretary John Mbadi declared that public budgets alone can no longer finance the nation's economic transformation, emphasizing the urgent need for private market capital. He highlighted that traditional financing methods are shrinking and unable to meet the country's financial demands.

• Kenya needs private capital, including venture capital and private equity, for transformation in agriculture, affordable housing, manufacturing, the digital economy, and climate-resilient infrastructure.
• CS Mbadi spoke at the 9th Annual Venture Capital Conference by the East Africa Venture Capital Association (EAVCA) in Nairobi.
• Private sector investments are expected to create direct jobs and opportunities, allowing the government to focus its scarce resources on essential public services like education, security, and health.