Kenya targets new China funds
CAPTION: A collage of the Jomo Kenyatta International Airport (JKIA) and President William Ruto, August 28th, 2026.
By Our reporter
NAIROBI – Kenya is seeking fresh financing from the Asian Infrastructure Investment Bank (AIIB) to fund major infrastructure projects, including a 243-kilometre Mau Summit-Malaba expressway.
Prime Cabinet Secretary Musalia Mudavadi said on Thursday, September 10, that part of the financing will also be used to modernise the Jomo Kenyatta International Airport (JKIA).
The development followed Mudavadi’s meeting with AIIB President Zou Jiayi, during which Kenya presented several projects that could receive financing from the China-based lender.
“Kenya is diversifying its development partnerships to unlock new capital, accelerate infrastructure delivery and create opportunities that our people can see and feel,” Mudavadi said.
Among the projects discussed was the Mau Summit-Malaba Expressway, a major highway expected to improve connectivity between western Kenya and the rest of the country.
The highway upgrade involves expanding 243 kilometres of the road into a four-lane, access-controlled dual carriageway to reduce traffic along the busy route.
The road is expected to operate as a tolled highway, with motorists set to pay upfront to use the road since it will be constructed through a Public-Private Partnership (PPP) agreement.
Other projects discussed during the meeting included extensions of the Standard Gauge Railway (SGR) from Naivasha to Malaba, renewable energy projects, rural roads, and water infrastructure.
The CS revealed Kenya had advanced discussions on a proposed Ksh64 billion Panda Bond, a Chinese-denominated bond, which would provide the country with access to China’s capital market.
AIIB and the African Development Bank are expected to play a critical role in opening the financing opportunity, with the Panda Bond allowing Kenya to raise funds from investors in the Chinese market.
Mudavadi further said Kenya had offered to host the AIIB Sub-Saharan Africa Office in Nairobi to strengthen the city’s position as a gateway between Asian investors and African markets.
“Our goal is simple: mobilise global capital to build the infrastructure Kenya needs today and create the jobs, businesses and opportunities our young people need for tomorrow,” the CS noted.
During her visit to Kenya, Zou Jiayi also inspected progress on the landmark Rironi-Mau Summit Project and expressed satisfaction with the progress achieved so far.
