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Kenya Announces Major Infrastructure Projects and Funding Mechanisms
The Kenyan Cabinet is set to approve the National Infrastructure Fund (NIF), aiming to mobilize Sh5 trillion. In parallel, the government has initiated the expansion of the Nairobi Central Railway Station as part of the Nairobi Railway City project to create a multimodal transport interchange. In a separate infrastructure deal, the Kenya Electricity Transmission Company Limited (KETRACO) has signed a Sh40.4 billion ($311 million) Public-Private Partnership (PPP) agreement to expand and modernize the country's power transmission network with Africa50 and Power Grid Corporation of India. The Cabinet also approved the transfer of smart driving licence issuance from the National Transport and Safety Authority (NTSA) to a private investor under a new PPP framework.
Kenya Greenlights Dollar-Denominated REITs and a Tokenized Lending Platform
Africa Logistics Properties Holdings Limited (ALPH) has received approval from the Capital Markets Authority (CMA) to launch the ALP Industrial Real Estate Investment Trust (REIT), the first US dollar-denominated issuance on the Nairobi Securities Exchange. Similarly, Two Rivers International Finance and Innovation Centre (TRIFIC) plans to launch Kenya's first Green, USD-denominated Income REIT, aiming to raise Sh5 billion. This I-REIT is intended to fund environmentally sustainable commercial towers within its Special Economic Zone. In a separate financial innovation, digital lender Tala partnered with Huma Finance to launch a tokenized consumer lending platform. This initiative uses a $50 million USDC credit facility built on the Solana blockchain to expand financial access in emerging markets.
