NAIROBI, Kenya, May 19 – Spearhead Africa Asset Management has listed Kenya’s first infrastructure fund on the Nairobi Securities Exchange, marking a major step in expanding investment options within the country’s capital markets.
The Spearhead Africa Infrastructure Fund (SAIF) raised Sh3.4 billion during its initial public offer, backed by anchor investments from the UK government’s MOBILIST programme and CPF Group.
The fund will invest in infrastructure debt across East Africa, targeting sectors including renewable energy, digital infrastructure, logistics and electrification.
SAIF is regulated by the Capital Markets Authority and introduces infrastructure debt as a tradable investment product accessible through the stock exchange.
The listing also allows local investors, including pension funds, to invest in infrastructure projects using Kenya shilling-denominated financing, reducing exposure to foreign exchange risks.
Ngatia Kirungie said the fund is designed to widen access to infrastructure investments while channeling domestic capital into productive sectors of the economy.
“SAIF is designed to democratise access to the infrastructure asset class for all investors and demonstrates that local currency infrastructure finance can be delivered at scale,” he said.
Frank Mwiti described the listing as a milestone in deepening Kenya’s capital markets and expanding long-term financing options for infrastructure development.
The UK government, through the Foreign Commonwealth and Development Office, invested Sh1.2 billion through the MOBILIST programme as part of efforts to mobilize private capital into African infrastructure projects.
Matt Baugh said the investment reflects a shift toward using public funds to attract larger pools of private capital for development projects.
Kenya’s pension industry currently manages more than Sh2.8 trillion in assets, with the new fund expected to provide institutional investors with an additional long-term investment option linked to infrastructure growth.
