CS Mbadi Reveals Status of National Infrastructure Fund After Standard Media’s Headline
Treasury Cabinet Secretary John Mbadi has pushed back against claims that he admitted to misleading Members of Parliament over the proposed National Infrastructure Fund (NIF), accusing a local newspaper of misrepresenting his remarks in a headline that has sparked national debate.
Mbadi addressed the issue on Wednesday, March 4, while speaking during the announcement of results from the Kenya Pipeline Company Initial Public Offering (IPO), where he defended his earlier statements regarding the controversial Ksh5 trillion infrastructure financing vehicle.
The controversy erupted after a headline published by The Standard suggested that the Treasury boss had admitted in court to providing misleading information about the legal status of the proposed fund.
According to the newspaper’s Wednesday edition, Mbadi had earlier indicated under oath that the National Infrastructure Fund existed and had been registered, only to later clarify that the entity had not been formally incorporated and that its name had not yet been secured legally.
The report further questioned who authorised the establishment of the Fund, even as the High Court of Kenya continues to examine the legality and constitutionality of the proposed private investment vehicle.
“Let me be very clear, the National Infrastructure Fund Bill is in the National Assembly. It is not going to the Senate, and the debate about it is almost concluded, so we have the Fund,” Mbadi said during the briefing.
The Treasury CS explained that the legislation establishing the fund is currently undergoing parliamentary consideration and that the government is awaiting approval before finalising its legal structure and operational framework.
“This is because we know that Kenyans are very interesting; you can wake up and find someone has already registered the National Infrastructure Fund as a political party, and now you will not be able to register it as an investment entity,” he added.
Mbadi also criticised the newspaper headline as sensational, stating that public officials often face challenges when their remarks are interpreted differently from the intended meaning.
“My role is to communicate. But I cannot determine how you understand me. You also have the right to try to manipulate what I say. But what I said will remain,” the Cabinet Secretary reiterated.
According to the Treasury, the fund is designed as an investment platform aimed at attracting private capital into major infrastructure initiatives such as roads, energy projects, ports, and large-scale public works.
Unlike traditional development financing mechanisms, the fund will not rely solely on allocations from the national budget.
Mbadi emphasised that the model is intended to reduce pressure on public finances while accelerating the implementation of critical development projects.
“This fund is to pump private sector investment into projects. Do not look at it like a donor somewhere to give money to a project,” he explained.
He added that every project considered for funding under the programme would be subjected to rigorous feasibility studies and commercial viability assessments before approval.
According to the Treasury, the government hopes that the fund will help bridge Kenya’s long-standing infrastructure financing gap while allowing private investors to participate in major national development initiatives.
As debate around the proposed fund continues both in Parliament and the courts, officials say its final structure and implementation timeline will depend on the outcome of the ongoing legislative and legal processes.
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CS Mbadi Reveals Status of National Infrastructure Fund After Standard Media’s Headline
