NAIROBI, Kenya- The United Kingdom Government, in partnership with CPF Financial Services, has backed the historic listing of the Spearhead Africa Infrastructure Fund (SAIF) on the Nairobi Securities Exchange, marking the first infrastructure fund to be listed on Kenya’s stock market.
The milestone listing saw SAIF raise Sh3.4 billion, funds that will now be invested in critical infrastructure sectors including renewable energy, digital infrastructure, logistics and electrification through long-term financing in Kenyan shillings.
The listing was officially marked Tuesday during a bell-ringing ceremony at the NSE attended by British High Commissioner to Kenya Matt Baugh, Treasury Cabinet Secretary John Mbadi and key players in Kenya’s capital markets sector.
The development is being hailed as a major breakthrough for Kenya’s financial markets, opening up infrastructure investment opportunities to local institutional investors such as pension funds through a regulated and tradable public market structure.
Until now, Kenya’s capital markets lacked listed infrastructure products, limiting opportunities for domestic investors to directly participate in financing long-term development projects.
SAIF’s listing is expected to help bridge that gap by enabling local investors to invest in infrastructure projects using Kenyan shillings, reducing foreign exchange risks while supporting national development priorities.
The UK’s anchor investment of Sh1.2 billion was channelled through the MOBILIST programme, a UK government-backed initiative aimed at developing capital markets in emerging economies through catalytic investments and technical assistance.
The programme has increasingly shifted the UK’s development approach from traditional aid to investment-driven partnerships designed to unlock private sector growth.
“This latest listing is further demonstration of the UK’s partnership to secure Kenyan investment in the things that Kenyans rely on every day,” said Matt Baugh.
“Better infrastructure means better services, energy, digital, logistics and electrification, strengthening the basis for long-term growth. The total of Sh3.4 billion raised from the UK’s anchor investment of Sh1.2 billion reflects our shift from donor to investor,” he added.
Ngatia Kirungie, Managing Director and CEO of Spearhead Africa Asset Management, described the fund as a transformative step in democratizing access to infrastructure investments.
“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,” he said.
He added that strong participation from both domestic and international institutional investors signalled growing confidence in African capital markets and the potential to channel domestic capital into productive sectors of the economy.
The SAIF listing becomes the second MOBILIST-backed listing in Kenya this year after the successful listing of the Africa Logistics Properties Real Estate Investment Trust (ALP REIT) in March 2026.
Analysts say the move could accelerate the development of Kenya’s capital markets by creating more investment vehicles tied to infrastructure and long-term economic growth.
The initiative also aligns with the broader Kenya-UK Strategic Partnership, which focuses on economic transformation, sustainable investment and expansion of private-sector-led growth across Africa.
