As part of President William Ruto’s ambitious plan to raise KSh 4 trillion for significant development projects nationwide, the government is scheduled to introduce a bill in Parliament to establish the National Infrastructure Fund (NIF). President William Ruto noted insufficient power made Kenya lag behind. NIF will finance infrastructure in important areas such as roads, rail, airports, water and sanitation, and power. How will NIF source funds? Private investors will contribute to the fund, but budgetary allocations will also provide a portion of the funding. Funds from state-agency privatisation will also be pooled into the pot.
President William Ruto announced that the majority of the KSh 4 trillion expected to be raised would be used for energy generation. Ruto spoke on Monday, October 13, as he unveiled several projects, including affordable housing at Konza Technopolis City in Makueni county. President William Ruto launched several projects at Konza City The president said KSh 1.5 trillion will be used to construct 50 dams, while another KSh 1.5 trillion will be allocated to roads, railways, and airports, including the expansion of the Jomo Kenyatta International Airport (JKIA). Ruto noted that insufficient power is a barrier to the economy’s industrialisation while luring investors to the Silicon Savannah. He pointed out that the establishment of special economic zones (SEZs) at Vipingo, Dongo Kundu, Konza Technopolis, and Naivasha increased power demand.
“We do not have enough electricity to transform our nation. Today we only have 2300MW, and in peak hours, we do not have enough power. As a country, we urgently, within the next five to seven years, need 10,000MW of energy. To generate 10,000MW of energy, we need about KSh 1 trillion. It is not a lot of money; we can find it,” the president explained. How Ruto plans to increase power production The 50 dams, the size of Thwake Dam, are expected to generate this power. It is also expected that these dams will be crucial to food security. A further two million acres of land will be irrigated, away from Galana Kulalu. The head of state reiterated that a greater area under irrigation will result in lower food imports, which average KSh 500 billion a year, and increased exports to the new markets with which Kenya has inked deals. “We have nearly run out of land for agriculture that produces food and fodder. We have to switch to irrigation now. To irrigate two million acres, we must construct 50 mega dams like Thwake, which will cost at least KSh 1.5 trillion,” he said.
By Japhet Ruto
