Roadmap to Singapore: MPs Pass KSh 5 Trillion National Infrastructure Fund Bill

Passed on March 5, 2026, with key amendments, the legislation now awaits assent from President William Ruto to become law. The bill is positioned as a cornerstone of President Ruto's vision to transform Kenya into a developed nation—often referred to as the "Singapore dream" or the journey to "Canaan" and first-world status—by shifting from debt-heavy financing to a more sustainable, investment-driven model for major projects.

The fund will support commercially viable national initiatives across critical sectors, including highways, railway networks, airports, seaports, electricity generation and distribution, water reservoirs, irrigation schemes, agribusiness infrastructure, and digital facilities like data centres. Proponents, including National Assembly Majority Leader Kimani Ichung’wah, hailed the passage as historic—comparable to the landmark Sessional Paper No. 10 of 1965—stating that it crystallizes a clear roadmap to economic advancement. Finance Committee Chairperson Kimani Kuria emphasized practical benefits, such as faster travel times and new infrastructure like highways connecting regions more efficiently.

Amendments addressed earlier concerns over governance and oversight, reducing the Treasury Cabinet Secretary's direct control and establishing a governing council (including the CS, Central Bank Governor, Attorney General, and independent experts) along with an eight-member board featuring competitively recruited directors. Parliament gained stronger oversight, requiring the board's investment policy to be tabled and approved within 90 days. While supporters celebrated the move toward self-sustaining development, opposition voices had raised issues about potential risks of concentrated power and accountability, though the revised framework aims to balance executive direction with legislative checks.