Kenyan President William Ruto has officially appointed the members of the Governing Council for the National Infrastructure Fund (NIF). According to a statement released by the Executive Office of the President on April 1, 2026, this step represents a major shift from Kenya’s traditional debt-driven development model toward a sustainable, investment-led approach.
The fund was established under the National Infrastructure Fund Act of 2026 (Act No. 4 of 2026). Its primary objective is to mobilize private capital to expedite the implementation of commercially viable, large-scale infrastructure projects.
To lead this transformative institution, the President has assembled a Governing Council composed of high-ranking government officials and renowned international financial experts.
The Council is chaired by Hon. John Mbadi Ng’ongo, the Cabinet Secretary for the National Treasury. He is joined by statutory members including Dr. Kamau Thugge, Governor of the Central Bank of Kenya, and Hon.
Dorcas Agik Oduor, the Attorney-General of the Republic. This leadership structure is designed to ensure that the country’s fiscal policy, monetary stability, and legal frameworks remain closely integrated.
To send a clear signal of confidence to international investors, the Council includes several distinguished “Independent Members” from the global financial sector. Among them are Prof. Benedict Oramah, former President of the African Export-Import Bank (Afreximbank) and an expert in continental trade finance;Paul Russo, CEO of KCB Group PLC, who provides a vital link to the regional banking sector; Faith Boinett, an Advocate of the High Court and Chairperson of Kenya Pipeline Company; and Richard Etemesi, a seasoned executive with over 30 years of leadership experience at Standard Chartered Bank across Africa, Asia, and the Middle East.
According to the press release signed by Felix K. Koskei, Chief of Staff and Head of the Public Service, the Council’s immediate priority will be the recruitment of the Fund’s Board of Directors. Once established, the Board will appoint a Chief Executive Officer (CEO) to manage the day-to-day operations of the institution.
