Kenya: James Mworia takes the helm of the infrastructure fund targeting 5,000 billion KSh

Kenya has appointed James Mworia as the founding Chief Executive Officer of the National Infrastructure Fund (NIF), effective September 7, 2026. The fund is set to become one of the government’s main instruments for mobilizing private capital around the country’s major infrastructure projects.

The NIF aims to mobilize and invest up to 5,000 billion Kenyan shillings over the next decade. This target represents a sought-after financing capacity and not an amount already available: the model relies on public contributions intended to attract private investors, pension funds, and international financial institutions.

In the immediate term, James Mworia will need to establish the organization, systems, and teams of the fund, build a portfolio of projects likely to attract investors, and mobilize co-financing. The board of directors also wants to accelerate the transition of priority projects towards financial structuring and implementation.

Created in March 2026, the National Infrastructure Fund is intended to finance roads, railways, ports, energy infrastructure, and equipment related to agriculture. Nairobi is thus seeking to reduce dependence on traditional financing through public debt and taxation for projects capable of attracting commercial capital.

Public capital to attract private investment

The chosen framework combines public resources and private investments. The initial resources must notably come from public capital and proceeds from operations on state holdings, with the aim of creating a leverage effect with institutional investors.

James Mworia comes with over 25 years of experience in investment, business development, and capital allocation. He had been leading Centum Investment Company for 17 years and had joined the NIF board of directors in July before being appointed as the first CEO following a recruitment process.

His departure also triggers a transition at Centum. The investment group has appointed Thomas Omondi-Achola as interim CEO, who was previously the group’s chief operating officer and partner in charge of portfolio operations.

The first challenge for the NIF will now be to turn its target of 5,000 billion shillings into bankable projects and actual committed capital. The board of directors has placed the establishment of the investment portfolio and the mobilization of co-financing among the immediate priorities of the new management.