Treasury Cabinet Secretary John Mbadi has defended the newly passed National Infrastructure Fund Bill 2026, hitting out at opposition leaders who have rejected the proposal and urging them to benchmark with global models before criticising the initiative.

The National Assembly recently approved the Bill, paving the way for the establishment of the National Infrastructure Fund (NIF), a major investment vehicle aimed at financing large-scale infrastructure projects across the country.

In a statement shared on March 6, 2026, Mbadi dismissed criticism from opposition leaders, maintaining that the fund is part of a broader economic transformation agenda.

“We have no apology embarking on economic revolution in Kenya through National Infrastructure Fund. I humbly challenge the opposition team to benchmark with developed countries that have succeeded after adopting such investment fund before opposing for political expediency,” Mbadi said.

Opposition raises concerns

The Bill has faced criticism from leaders in the United Opposition, including Kalonzo Musyoka, Rigathi Gachagua, Eugene Wamalwa and Justin Muturi.

The leaders have questioned the legal and governance framework of the fund, raising concerns over accountability and oversight. Some have also warned that the initiative could be misused for political purposes ahead of the 2027 General Election.

Despite the criticism, Mbadi welcomed the passage of the Bill, saying the investment vehicle will help unlock Kenya’s economic potential and ease pressure on public borrowing.

“The passage of Infrastructure Fund Bill 2026 in @NAssemblyKE that paves way for creation of the first of a kind Investment Fund in Kenya is not only a game changer in unlocking Kenya’s economic potential by accelerating growth but will also ease debt pressure. Let’s join hands,” he said.

Focus on infrastructure financing

According to the Treasury, the National Infrastructure Fund will mobilise resources for key sectors including transport, energy, water, irrigation, digital connectivity and agribusiness infrastructure.

The government intends to attract financing from both public and private investors, including through public-private partnerships and proceeds from partial divestiture of state-owned enterprises.

One example cited by government officials is the recent Initial Public Offering of Kenya Pipeline Company shares, which attracted significant investor interest. Proceeds from such transactions are expected to support capitalisation of the infrastructure fund.

Treasury officials say the fund will prioritise commercially viable projects capable of attracting long-term investment while reducing reliance on traditional debt financing.