Browsing: US Embasy in Kenya

US helps incubate Kenya’s Pension schemes for infrastructural projects

Kenya pension schemes are gearing up to undertake major infrastructural work, taking advantage of a growing need for capital both by government and the private sector. 

While most of the capital generated in Kenya for infrastructural development is often obtained in the form of concession loans, pension schemes have been utilized mainly in real estate as well as government bonds. 

However, under a new outfit called Kenya Pension Fund Investment Consortium (KEPFIC) plans are underway to form a partnership with pension funds in the United States, South Africa and the United Kingdom to facilitate KSh25bn (US$229.6 million) in investments in infrastructure, real estate and affordable housing over the next four years. 

The US through Kenya’s Ambassador Kyle McCarter, together with representatives from the World Bank and American advisory firm MiDA Advisors, have launched the outfit.  KEPFIC will enable pension schemes to jointly make sustainable long-term infrastructure and alternative asset investments