NAIROBI, Kenya – The UK government, in partnership with CPF Financial Services, has supported the listing of the Spearhead Africa Infrastructure Fund (SAIF) on the Nairobi Securities Exchange (NSE), marking the first infrastructure fund to be listed on the local bourse.
The fund raised Sh3.4 billion, which will be invested in infrastructure projects in renewable energy, digital infrastructure, logistics and electrification through long-term financing in Kenyan shillings.
The listing was officially launched during a bell-ringing ceremony held at the NSE on Tuesday, May 19, attended by British High Commissioner to Kenya Matt Baugh, Treasury Cabinet Secretary John Mbadi and stakeholders from Kenya’s capital markets sector.
The development is expected to expand investment opportunities for local institutional investors, including pension funds, by allowing them to channel capital into infrastructure projects through a regulated public market platform.
Until now, the absence of listed infrastructure products on the NSE had limited the ability of domestic investors to directly participate in infrastructure financing.
SAIF’s listing is also expected to reduce foreign exchange risks for borrowers by providing local currency financing aligned with Kenya’s long-term development goals.
The UK government supported the investment through its MOBILIST programme, which provides technical assistance and catalytic funding to help new investment products access public markets.
Speaking during the launch, British High Commissioner Matt Baugh described the listing as a major milestone in Kenya-UK investment cooperation.
“This latest listing is further demonstration of the UK’s partnership to secure Kenyan investment in the things that Kenyans rely on every day. Better infrastructure means better services – energy, digital, logistics and electrification, strengthening the basis for long-term growth,” Baugh said.
“The total of Sh3.4 billion raised from the UK’s anchor investment of Sh1.2 billion reflects our shift from donor to investor – using funds to raise capital that delivers impact at scale. We’re going far, together.”
Ngatia Kirungie, the Managing Director and CEO of Spearhead Africa Asset Management, said the fund was designed to open up infrastructure investment opportunities to more investors while strengthening local currency financing.
“SAIF is designed to democratize access to the infrastructure asset class for all investors and demonstrates that local currency infrastructure finance can be delivered at scale,” Kirungie said.
“The strong participation of domestic and international institutional investors and support from our regulators underscores the credibility of SAIF’s structure and strategy and signals a broader evolution in African capital markets.”
By listing on the NSE, SAIF now offers investors a transparent and tradable platform to invest in long-term infrastructure projects while supporting economic growth and job creation.
The listing becomes the second MOBILIST-backed public market launch in Kenya this year after the successful listing of Africa Logistics Properties Real Estate Investment Trust (ALP REIT) in March.
The initiative forms part of the Kenya–UK Strategic Partnership, which seeks to strengthen local capital markets and promote economic transformation driven by African priorities.
