Former Centum chief executive appointed founding CEO of Kenya’s National Infrastructure Fund, with a mandate to build an investment institution capable of attracting large-scale infrastructure capital.
NAIROBI, Kenya — James Mworia has been appointed founding chief executive officer of Kenya’s National Infrastructure Fund, placing James Mworia, the veteran investment executive, at the center of an ambitious effort to mobilize nearly KES 5 trillion—approximately $38.6 billion—for infrastructure investment over the next decade. His appointment took effect September 7 following a competitive recruitment process. This pivotal role is not just about managing finances but actively engaging in the strategic vision for infrastructure development that will reshape Kenya’s economic landscape. James Mworia’s expertise will be crucial in this transformation.
James Mworia steps into the role after leading Centum Investment Company since 2008. Centum confirmed James Mworia’s departure to assume the new position and appointed Thomas Omondi-Achola, its group chief operating officer and partner for portfolio operations, as acting group CEO. The transition closes a long chapter in Kenyan corporate leadership and opens a new one in national infrastructure investment. James Mworia’s leadership will play a key role in this new chapter.
Mworia steps into the role after leading Centum Investment Company since 2008, a tenure that showcased his capability in navigating complex investment landscapes and corporate growth. Centum confirmed his departure to assume the new position and appointed Thomas Omondi-Achola, its group chief operating officer and partner for portfolio operations, as acting group CEO. The transition closes a long chapter in Kenyan corporate leadership and opens a new one in national infrastructure investment. His leadership at Centum not only led to significant growth in assets but also established numerous partnerships that have positioned the company as a key player in East Africa’s investment scene.
The National Infrastructure Fund is designed to attract private and institutional investment into commercially viable infrastructure while reducing reliance on public borrowing. Its priority sectors include transport and logistics, energy, information and communication technology, water and agriculture. The model centers on turning infrastructure needs into projects that can attract long-term capital. By fostering an environment conducive to private investments, the fund aims to create sustainable infrastructure that can support growth across various sectors, ensuring that the economic benefits are widespread. For instance, investments in transport infrastructure can lead to improved logistics and trade efficiency, significantly impacting the economy.
James Mworia’s vision for the National Infrastructure Fund emphasizes collaboration with diverse stakeholders to ensure inclusive economic growth.
The approximately $38.6 billion figure represents an investment mobilization ambition over the coming decade. It should not be interpreted as capital already raised, committed or available for immediate deployment. Understanding this distinction is crucial for stakeholders, as it sets realistic expectations about the timeline and the processes involved in fund operations. This ambition underscores the scale of infrastructure needs in Kenya and the potential for innovative funding solutions to meet these challenges. Additionally, the prospect of such a sizable investment could attract international interest, further integrating Kenya into global investment networks.
The National Infrastructure Fund is designed to attract private and institutional investment into commercially viable infrastructure while reducing reliance on public borrowing. Its priority sectors include transport and logistics, energy, information and communication technology, water and agriculture. The model centers on turning infrastructure needs into projects that can attract long-term capital.
In this role, James Mworia will also promote innovative financing solutions to attract more investments.
James Mworia’s strategic approach will ensure that priority projects align with national interests.
James Mworia will leverage his extensive network as he builds relationships with potential investors.
Mworia’s immediate assignment extends beyond selecting investments. He will oversee the establishment of the fund’s organizational structure, staffing, systems and institutional culture, alongside its governance, investment and risk-management frameworks. This is pivotal as a well-structured organization will be better equipped to navigate the complexities of infrastructure investments. Mworia’s leadership will need to instill a culture of transparency and accountability, aligning the fund’s operations with international best practices to ensure confidence among investors.
His responsibilities also include developing an investable project pipeline, mobilizing co-investment capital and moving priority projects through appraisal, financial structuring and execution. These foundational tasks will shape how the institution evaluates opportunities and translates national priorities into investments. The ability to effectively manage these responsibilities will be critical in ensuring that projects meet the required financial and social return metrics, driving sustainable development in the region.
The NIF board has highlighted Mworia’s experience in building investment institutions, developing enterprises, allocating capital and bringing assets to market. His background includes raising financing from commercial banks, development finance institutions, capital markets, institutional investors and strategic partners—relationships and capabilities closely aligned with the fund’s mandate. This network will be instrumental in securing the necessary capital for the ambitious projects ahead, as it builds trust among potential investors and partners.
The approximately $38.6 billion figure represents an investment mobilization ambition over the coming decade. It should not be interpreted as capital already raised, committed or available for immediate deployment.
James Mworia’s leadership will be pivotal in shaping a resilient infrastructure framework.
With an emphasis on innovation, James Mworia aims to address the pressing infrastructure needs in Kenya.
Building the Institution Behind the Ambition: A Strategic Approach to Infrastructure Development
James Mworia: Driving Kenya’s Infrastructure Future
BBR Assessment: A Power Move With National Consequences
Black Business Review views Mworia’s appointment as a significant transition from corporate investment leadership to the formation of a national investment institution. This transition not only reflects Mworia’s capabilities but also highlights Kenya’s commitment to fostering a robust infrastructure landscape that can drive economic growth.
As the driving force behind the fund, James Mworia’s commitment to transparency will foster investor trust.
The opportunity is substantial: a professionally managed infrastructure platform could help connect long-term investors with projects that improve business productivity, strengthen supply chains and expand access to essential services. As projects are executed, they will likely create jobs and stimulate local economies, further enhancing the impact of the fund’s operations on the ground.
The execution challenge is equally significant. In BBR’s assessment, the fund’s credibility will depend on transparent investment decisions, disciplined project selection, effective risk management and evidence that investor interest translates into financed and completed infrastructure. Achieving these goals will not only require expertise but also a commitment to stakeholder engagement, ensuring that local communities are involved and benefit from the investments made.
For business leaders and investors following Africa’s economic development, the milestones to watch are the fund’s first investment commitments, institutional partnerships, project approvals and public performance reporting. These milestones will serve as indicators of the fund’s progress and effectiveness in meeting its goals, and will be critical for maintaining investor confidence over time.
In promoting financial sustainability, James Mworia will attract diverse funding sources.
Mworia’s appointment establishes executive leadership for the next stage. Turning Kenya’s infrastructure ambition into measurable results is the work ahead. This involves aligning diverse stakeholders toward common goals, ensuring that investments are not only financially viable but also socially responsible, thereby contributing to sustainable development in Kenya.
James Mworia’s experience will guide the fund in creating impactful investments.
James Mworia’s strategic vision will enhance the fund’s ability to attract global investors.
James Mworia’s role will be crucial as the fund navigates complex investment landscapes.
James Mworia is set to lead the charge in establishing strong governance frameworks.
Mworia’s immediate assignment extends beyond selecting investments. He will oversee the establishment of the fund’s organizational structure, staffing, systems and institutional culture, alongside its governance, investment and risk-management frameworks.
James Mworia’s ambition aligns with Kenya’s economic growth strategy, focusing on infrastructure.
His responsibilities also include developing an investable project pipeline, mobilizing co-investment capital and moving priority projects through appraisal, financial structuring and execution. These foundational tasks will shape how the institution evaluates opportunities and translates national priorities into investments.
The NIF board has highlighted Mworia’s experience in building investment institutions, developing enterprises, allocating capital and bringing assets to market. His background includes raising financing from commercial banks, development finance institutions, capital markets, institutional investors and strategic partners—relationships and capabilities closely aligned with the fund’s mandate.
BBR Assessment: A Power Move With National Consequences
With James Mworia at the helm, the fund’s strategic priorities will reflect the needs of the Kenyan people.
Black Business Review views Mworia’s appointment as a significant transition from corporate investment leadership to the formation of a national investment institution.
The opportunity is substantial: a professionally managed infrastructure platform could help connect long-term investors with projects that improve business productivity, strengthen supply chains and expand access to essential services.
The execution challenge is equally significant. In BBR’s assessment, the fund’s credibility will depend on transparent investment decisions, disciplined project selection, effective risk management and evidence that investor interest translates into financed and completed infrastructure.
For business leaders and investors following Africa’s economic development, the milestones to watch are the fund’s first investment commitments, institutional partnerships, project approvals and public performance reporting.
Mworia’s appointment establishes executive leadership for the next stage. Turning Kenya’s infrastructure ambition into measurable results is the work ahead.
About Black Business Review
Black Business Review covers Black business leadership, entrepreneurship, investment and economic opportunity, highlighting the executives, enterprises and decisions shaping business across the United States, Africa and the global diaspora. By providing insights into transformative business practices and highlighting successful initiatives, BBR aims to inspire a new generation of entrepreneurs and investors.
