Treasury Cabinet Secretary John Mbadi appeared on Citizen TV JK Live on Wednesday, 11th february 2026, to outline a new direction for Kenya’s economy. His message was clear: Kenya wants to rely less on foreign borrowing and build wealth at home, with citizens playing a central role.
Speaking about the Kenya Pipeline Company IPO, Kenyans have already shown interest in buying shares, as he urged more participation. He said that if Kenyans could hold back, foreign investors will take over and later resell at higher prices. He said that, however, the government wants broad ownership so that ordinary citizens benefit directly from the company’s success.
Mbadi then explained Cabinet approved the National Infrastructure Fund in December and it is now before Parliament. This fund will collect money from privatisations and investments and use it for major projects such as roads, energy, and transport.
Closely linked is the Sovereign Wealth Fund, which he described as Kenya’s savings account. It will finance infrastructure, protect wealth for future generations, and cushion the economy against shocks like droughts or global recessions. The SWF bill is ready and should become law by April.
On financing, Mbadi reassured Kenyans that proceeds from privatizations including 204 billion shillings from Safaricom and 106 billion shillings from KPC, will be directed into these funds. He acknowledged scepticism, given past scandals like Eurobond and NYS, but promised that this time the money will only go into bankable, commercially viable projects. Social programs will continue to be funded through the regular budget.
A key part of the plan is to reduce reliance on foreign loans by encouraging domestic investment. Mbadi pointed to the National Social Security Fund as an example of local money being invested at home. With the National Infrastructure Fund in place, pension funds and insurance companies will be able to invest safely in infrastructure projects, cutting the need for government borrowing.
The Treasury CS described the overall strategy as taking the “Singapore” route. This model emphasises disciplined investment and broad-based development. For Kenya, it means building wealth steadily, reinvesting wisely, and ensuring citizens share in the benefits.
For the ordinary Kenyan, the takeaway is simple: there is a chance to own shares in major companies, expect better infrastructure without ballooning debt, and trust that a sovereign fund will provide security for future generations. The real question now is whether Kenyans will seize this opportunity and make themselves part of the country’s economic transformation.
