Treasury Appoints James Mworia as First National Infrastructure Fund CEO
The National Infrastructure Fund (NIF) has appointed Dr James Mworia, MBS, as its first-ever Chief Executive Officer (CEO), marking a major step in the establishment and operationalisation of the Ksh5 trillion infrastructure fund.
The NIF Board announced the appointment on Monday, September 7, 2026, saying Mworia would take up the position immediately after successfully emerging from a competitive recruitment process.
In a statement, the board confirmed that Mworia had been selected to serve as the founding CEO of the Fund, with his appointment taking effect on September 7, 2026.
Mworia will serve an initial four-year term. At the end of the term, the NIF Board will have the option of renewing his contract for another term, depending on his performance and the needs of the Fund.
The new CEO brings with him more than 25 years of experience in investment management, enterprise development and capital allocation. He has also held senior leadership positions in the corporate and investment sectors.
Mworia currently serves as Group Chief Executive Officer and Managing Director, a position he has occupied for the past 17 years. His extensive experience is expected to play an important role as the National Infrastructure Fund moves from the establishment stage to full operation.
His appointment comes about two months after the NIF Board began the search for a suitable chief executive to lead the Fund. The recruitment process was launched as the government continued putting in place the necessary structures for the Ksh5 trillion fund.
As the first CEO of NIF, Mworia will be responsible for providing strategic, commercial and operational leadership as the Fund works towards becoming fully operational.
One of his immediate responsibilities will be to establish the organisation’s structure, systems and institutional culture. He will also oversee the development and implementation of the Fund’s governance, investment and risk-management frameworks.
Mworia will further be expected to identify and develop a strong pipeline of infrastructure projects that can attract investment. He will work on mobilising co-investment capital and ensuring that priority projects move through the required stages, including appraisal, financial structuring and eventual implementation.
The National Infrastructure Fund was established under the National Infrastructure Fund Act, 2026. Its main objective is to increase and speed up infrastructure development in Kenya while attracting private investment and other alternative sources of funding.
The Fund is expected to help the country reduce its dependence on public borrowing to finance commercially viable infrastructure projects. It will also seek to improve Kenya’s ability to plan, develop and deliver large and complex infrastructure projects.
NIF is expected to invest in several important sectors of the economy. These include transport and logistics, energy, information and communication technology (ICT), water and agriculture.
The Fund will operate under a capital-recycling model. Under this approach, infrastructure investments that become successful and mature can eventually be transferred to long-term owners or sold through the capital markets.
Money generated from the sale or realisation of such investments will then be recycled into the Fund and used to finance new infrastructure projects. This model is intended to allow NIF to continue supporting major projects without relying entirely on fresh government borrowing.
The Fund has already mobilised approximately Ksh350 billion. The money has been raised through partial sales of government stakes in various state-owned assets.
With Mworia now appointed as its first CEO, the NIF is expected to move into a more active phase as it builds its internal structures, develops its investment pipeline and begins advancing major infrastructure projects across the country.
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