State turns to private capital in Sh647bn infrastructure push ahead of 2027 elections

President William Ruto's administration has unveiled an ambitious infrastructure programme in its final budget before next year's general election, betting on private capital and innovative financing models to deliver mega projects while avoiding a fresh build-up of public debt. Treasury Cabinet Secretary John Mbadi presented the Sh4.82 trillion Budget for 2026/27, aiming to bridge Kenya's estimated $5 billion (Sh647 billion) annual infrastructure financing gap through public-private partnerships (PPPs), securitisation of levies, and the newly established National Infrastructure Fund. The centrepiece is the Nairobi–Nakuru–Mau Summit Highway, costing between Sh184 billion and Sh200 billion, financed through a PPP involving China Road and Bridge Corporation and the National Social Security Fund, with investors recouping costs via tolls over 30 years. The government is also planning the Nairobi–Mombasa Expressway and the Mau Summit–Eldoret–Malaba Highway under similar arrangements.