The fund, which has raised 3.4 billion KSh, is bringing infrastructure as a new asset class to the public market. By providing a regulated and liquid platform, SAIF enables both institutional and individual investors to buy and sell shares on the exchange, moving away from the historically inaccessible and illiquid nature of private infrastructure transactions.
SAAM Managing Director Ngatia Kirungi said the fund's goal is to democratize access to infrastructure investment and prove that local currency financing can be implemented on a large scale. The fund's portfolio will focus on repaying urgent debt on private sector projects in East Africa, in particular on renewable energy, digital infrastructure, logistics and electrification. The initial 3.4 billion KSh was allocated by the CPF Group and the UK Government under the program MOBILIST of the Ministry of Foreign Affairs, Commonwealth and Development, which helped reduce the risks to the fund and attract wider participation from local institutional structures.
NSE Executive Director Frank Mwiti welcomed the listing as an important step in diversifying Kenya's capital markets. He noted that the fund provides a vital opportunity for the country's pension sector, which manages more than 2.8 trillion KSh, to diversify portfolios beyond traditional stocks and government securities, while reducing currency risk.
The UK High Commissioner to Kenya, Matt Bow, stressed that the listing reflects a shift towards an investment partnership that supports critical services such as energy and digital connectivity. CPF Group Chief Executive Officer Osiya Keeley added that SAIF provides a transparent mechanism that provides a balance between profitability and capital conservation. Industry leaders believe SAIF's success could pave the way for future listings, helping to reduce Kenya's infrastructure funding gap and bolstering the country's position in emerging markets.
Comments (0)