By Olyvia Lavisa
Kenya is trying something interesting with its new National Infrastructure Fund (NIF). With an initial base of about Sh340 billion, it is expected to mobilise much more private and non-traditional capital for nationally significant infrastructure.
Its proposed investment policy places considerable emphasis on commercial discipline. Projects are expected to attract significant private financing and generate sufficient returns. These are important safeguards. But they also raise a much bigger question that matters beyond Kenya: What happens when we become very good at financing the wrong infrastructure?
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