Podcasts · The Mwango Capital Podcast
Understanding the National Infrastructure Fund
· 58 min
Episode Understanding the National Infrastructure Fund
In this episode recorded on September 15, 2026, we sit down with Dr. James Mworia (founding CEO, National Infrastructure Fund) to examine the architecture, governance, and mandate of Kenya’s newly established DFI. We explore NIF's SPV project finance structure, its private capital crowding-in target, the redeployment of privatisation proceeds into productive infrastructure, the bankability and risk allocation of priority projects like the JKIA expansion, and the potential for listed development infrastructure trusts (D-REITs) to recycle domestic capital.
Show Notes
00:00:00 Introduction
00:10:32 Succession and Transition to NIF
00:14:04 NIF’s Mandate
00:16:00 Debt Concerns and Economic Rationale
00:21:49 Project Selection and Priority Pipeline
00:31:23 Guarding Against Political Interference
00:38:21 NSE Listing and Possibility of a D-REIT
00:41:33 Reporting Mechanisms and Recycling Capital
00:44:38 JKIA Deal Structure and Risks
00:55:25 Recap and Closing Remarks
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