What You Need to Know
President William Ruto has appointed John Mbadi as the Chairperson of the National Infrastructure Fund’s Governing Council. The council includes key statutory and independent members tasked with overseeing the fund’s operations, which aims to finance critical infrastructure projects in Kenya. The appointments are part of a broader initiative under the National Infrastructure Fund Act, 2026.
Africa-Press – Kenya. President William Ruto has appointed John Mbadi as Chairperson of the Governing Council of the National Infrastructure Fund, alongside naming key statutory and independent members to steer the newly established body.
In a gazette notice dated March 30, 2026, the President appointed Mbadi together with statutory members Kamau Thugge, Governor of the Central Bank of Kenya, and Dorcas Oduor, the Attorney General.
He also appointed independent members Prof. Benedict Oramah, Faith Boinnet, Paul Russo, and Richard Etemesi, who will serve on the Governing Council for a term of three years.
“In exercise of the powers conferred by section 8… I….President of the Republic of Kenya and Commander-in-Chief of the Defence Forces, appoint… to be Members of the Governing Council of the National Infrastructure Fund, for a term of three (3) years,” the gazette notice reads.
The appointments are part of the broader constitution of the council under the National Infrastructure Fund Act, 2026, which establishes the framework for financing critical infrastructure projects in the country.
Among the independent appointees, Oramah, the immediate former President and Chairperson of the Board of African Export-Import Bank, currently serves as Chairperson of the Board of Directors of the Fund for Export Development in Africa (FEDA) and the African Medical Centre of Excellence.
He brings extensive experience in trade finance and development, having held senior leadership roles across the continent.
In recognition of his contributions to African trade and development, Oramah has received numerous accolades, including the Grand Commander of the Order of the Niger from the Government of Nigeria, as well as high national honours from Barbados, Cameroon, Chad, Congo, Gabon, Guinea-Bissau and the Russian Federation.
Faith Boinnet, an Advocate of the High Court of Kenya, currently serves as Chairperson of the Kenya Pipeline Company Limited.
She has extensive experience in public sector governance, having served in various State corporations and institutions, including the Privatisation Commission.
Paul Russo, the Chief Executive Officer of KCB Group PLC and Chairperson of the Kenya Bankers Association Governing Council, brings a wealth of experience in banking and financial services. He has previously served as Managing Director of the National Bank of Kenya and held senior positions at Absa Bank Kenya PLC (formerly Barclays), PricewaterhouseCoopers, and East African Breweries Limited.
Richard Etemesi, the Chairperson of Liberty Holdings Limited, is a seasoned financial services executive with over three decades of experience across Africa, Asia, and the Middle East.
He has held senior leadership roles at Standard Chartered Bank, where he served as Chief Executive Officer in multiple jurisdictions.
“These appointments have been published in the Kenya Gazette as Notice No. 4797 of 2026,” the notice states.
The Governing Council’s immediate priority will be to oversee the recruitment of the Fund’s Board of Directors, which will in turn appoint a Chief Executive Officer to drive the operationalisation of the National Infrastructure Fund.
The fund is expected to play a central role in mobilising resources for infrastructure development, while ensuring accountability and transparency in the management of public funds.
The National Infrastructure Fund was established to address the pressing need for infrastructure development in Kenya, which has been a critical factor in the country’s economic growth. The fund aims to mobilize resources effectively while ensuring transparency in the management of public funds. The appointments made by President Ruto are crucial for steering the fund towards achieving its objectives and enhancing the country’s infrastructure landscape. With experienced leaders at the helm, the fund is expected to play a significant role in supporting Kenya’s development agenda.
