NAIROBI, Kenya – CPF Capital & Advisory Ltd., a subsidiary of CPF Group, has signed an agreement with U.S.-based infrastructure investment firm Everstrong Capital to spearhead fundraising for the Usahihi Expressway Project.
The initiative aims to secure $1 billion (Ksh. 128 billion) through the PACK Hunters Club (PHC), a consortium of key financial institutions.
The deal, formalized under a Transaction Advisory and Placement Services Agreement, signals a strategic shift in Kenya’s infrastructure financing model by leveraging local institutional capital.
PHC brings together pension funds, fund managers, investment banks, insurance companies, and commercial banks in a collaborative effort to bridge the country’s infrastructure funding gap.
The Usahihi Expressway—derived from the Kiswahili word for “done correctly”—is a 440-kilometer, four-lane dual carriageway set to connect Nairobi and Mombasa.
📢 Transforming Kenya’s Infrastructure! We are thrilled to announce that CPF Capital & Advisory Ltd. has partnered with Everstrong Capital (K) Ltd. to lead a $1 billion fundraising effort for the Usahihi Expressway 🚗 440km expressway connecting Nairobi & Mombasa ⏳ Cuts travel…
With an estimated cost of $3.5 billion, the project aims to transform the corridor into a major economic hub, easing transportation and boosting trade.
CPF Group Managing Director Dr. Hosea Kili MBS emphasized the project’s broader economic implications.
“This initiative represents a paradigm shift towards private-sector-led infrastructure financing in Kenya. It showcases the potential of domestic institutional investors in driving economic growth while fostering global partnerships,” he said.
The financing strategy aligns with Kenya’s push for large-scale infrastructure development under the Public-Private Partnership (PPP) model.
Key industry associations backing the initiative include the Association of Pension Trustees and Administrators of Kenya (APTAK), the Fund Managers Association (FMA), the Kenya Association of Stockbrokers & Investment Banks (KASIB), the Kenya Bankers Association (KBA), the Association of Kenyan Insurers (AKI), and the Association of Retirement Benefits Schemes (ARBS).
“For the first time in Africa, local pension funds and financial institutions are taking the lead in financing their own infrastructure projects,” said Ambassador Kyle McCarter, Chairman of Usahihi Expressway Limited. “This marks a shift from aid to trade, laying the groundwork for self-reliance in infrastructure development.”
CPF Capital & Advisory’s Acting Executive Director, Mercy Thuo, underscored the project’s role in advancing Kenya’s capital markets.
“Our commitment to innovative investment solutions will redefine Kenya’s financial and economic landscape,” she stated.
The Usahihi Expressway project is expected to serve as a model for future infrastructure financing in Kenya and across the region, demonstrating the viability of private capital in funding large-scale public projects.
