NAIROBI, Kenya — President William Ruto has unveiled a detailed financing blueprint for Kenya’s next wave of multi-billion-shilling infrastructure projects, anchoring the plan on privatisation proceeds and a soon-to-be-established National Infrastructure Fund.
Speaking during the 62nd Jamhuri Day celebrations at Nyayo National Stadium on Friday, the President said the government is gearing up for a historic infrastructure rollout — including a new Thika–Nairobi Expressway — as part of a Sh5 trillion economic transformation agenda outlined in his November State of the Nation Address.
Privatisation to Fund New Highways
Dr Ruto said all revenues from privatising select State-owned enterprises will be ring-fenced and reinvested directly into major national projects.
“When ownership shifts to the private sector for efficiency, the benefits to the public will not diminish — they will multiply,” he said.
According to the President, the government expects a tenfold multiplier effect, seeking to attract long-term capital from pension funds, private equity, sovereign partners and development financiers.
“For every shilling we invest from privatisation proceeds, we aim to attract ten shillings from investors. This will allow us to build critical infrastructure without adding to the tax or debt burden,” he said.
National Infrastructure Fund to Drive Projects
On Monday, the Cabinet is expected to approve the framework for the National Infrastructure Fund, which will pool and deploy resources for roads, energy expansion, irrigation and industrial-scale value addition.
The fund will draw capital from natural-resource royalties, dividends from State investments and a portion of privatisation revenue.
Dr Ruto said the financing model is designed to uphold inter-generational equity, ensuring that Kenya’s infrastructure growth does not burden future taxpayers.
Sovereign Wealth Fund to Protect Future Generations
The Cabinet will also consider the policy establishing a Sovereign Wealth Fund (SWF) anchored on three goals:
- Saving for future generations
- Stabilising the economy against global shocks
- Investing in strategic national ventures
“This is how a responsible nation secures its future,” the President said.
Reforms to State Corporations
President Ruto also defended the recently enacted Government-Owned Enterprises Act, calling it the most consequential transformation of State corporations since independence.
He said the law dismantles patronage by disqualifying anyone who has held political or public office in the past five years from serving on boards, insisting the reforms will ensure professional, results-oriented management of national assets.
“This law ends the era of cronyism and patronage,” he noted.
Call for National Integrity and Patriotism
Dr Ruto shifted tone in the final part of his speech, warning that corruption, ethnic mobilisation and “a serious integrity deficit” remain barriers to progress.
“Corruption is not just theft of money — it is the theft of hope, opportunity and destiny,” he said, urging Kenyans to embrace honesty and national unity.
The President said achieving economic freedom requires strong human capital, security and a collective commitment to the national interest.
“With these, our vision of a prosperous, sovereign Kenya becomes not only possible, but inevitable,” he said.
