Kenya Raises Ksh129 Billion Through NIF - Ruto
The plan seeks to change how the country raises revenue to fund infrastructure projects, shifting away from the usual borrowing from global lenders...
✨ Key Highlights
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.
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Ruto Unveils NIF to Fund Infrastructure Projects - May 2026
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, shifting infrastructure funding away from external lenders. The Kenyan government will invest public funds from its NIF into a new Ksh 2.58 trillion oil refinery planned for East Africa, associated with Nigerian businessman Aliko Dangote. Kenya Railways launched a Ksh65 billion urban mobility improvement project aimed at addressing transport challenges in Nairobi and four surrounding counties, supported by the World Bank.
