President William Ruto has operationalized the National Infrastructure Fund (NIF) with the appointment of a seven-member governing council chaired by National Treasury Cabinet Secretary John Mbadi.
The council members include Governor of the Central Bank of Kenya (CBK) Dr Kamau Thugge and Attorney General Dorcas Oduor who been appointed as statutory members.
Other members of the council include immediate former president and chairperson of Afreximbank Prof Benedict Oramah and Faith Boinett who is Kenya Pipeline Company (KPC).
KCB Group Chief Executive Officer Paul Russo has also been appointed to the council membership which also include Liberty Holdings chairperson Richard Etemesi.
According to the NIF Act which has now been capitalized with Ksh 106 billion raised through KPC Initial Public Offering last month, the governing council which comprises of nine members are responsible for among others, recruitment of the fund’s board and overseeing the development of the Investment Policy.
“The Governing Council’s immediate priority will be to oversee the recruitment of the Fund’s Board of Directors, which shall in turn recruit the Chief Executive Officer to drive the operationalization of the Fund,” said Felix Koskei, Head of Public Service in a statement.
The appointees will serve in the council for a period of three years renewable once.
