Ruto Appoints John Mbadi to New Role

In a move set to revolutionize the way Kenya develops its infrastructure, President William Ruto has appointed members to the Governing Council of the National Infrastructure Fund.

The move comes in the wake of the coming into force of the National Infrastructure Fund Act, 2026 (Act No. 4 of 2026), which has been enacted, according to a press release dated Wednesday, April 1, 2026.

“It is notified that His Excellency the President has appointed members to the Governing Council of the National Infrastructure Fund. This presidential action follows the coming into force of the National Infrastructure Fund Act, 2026, pursuant to Article 116 of the Constitution,” the press release signed by Felix Koskei reads.

The move has been hailed as a “transformative step in the nation’s journey towards inclusive development,” characterized by a “strategic shift from the debt-driven approach to an investment-led approach, which will mobilize private capital for commercially viable infrastructure development.”

Strategic Appointments to the Governing Council

The newly constituted Governing Council will be chaired by John Mbadi Ng’ongo, the Cabinet Secretary for the National Treasury.

Statutory members include Dr. Kamau Thugge, Governor of the Central Bank of Kenya, and Dorcas Agik Oduor, Attorney-General of the Republic of Kenya.

The Council also includes independent members such as Prof. Benedict Oramah, former President of the African Export-Import Bank; Mrs. Faith Boinett, Chairperson of the Kenya Pipeline Company Limited; Mr. Paul Russo, Chief Executive Officer of KCB Group PLC; and Mr. Richard Etemesi, Chairperson of Liberty Holdings Limited.

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Prof. Oramah’s appointment was highlighted in the release: “He brings extensive experience in trade finance and development, having held senior leadership roles across the continent. In recognition of his immense contributions to African trade and development, he has received numerous accolades, including the Grand Commander of the Order of the Niger (GCON) from Nigeria.”

Mrs. Boinett was noted for her public sector governance expertise: “She has experience in public sector governance, having served in various State corporations and institutions, including the Privatization Commission.”

Focus on Operationalizing the Fund

The press release also highlighted the immediate focus of the Governing Council, stating:

“Governing Council’s immediate priority will be to oversee the recruitment of the Fund’s Board of Directors, which shall in turn recruit the Chief Executive Officer to drive the operationalisation of the Fund.”

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Mr. Russo and Mr. Etemesi are both individuals with vast experience in the financial sector.

Mr. Russo has served in top management positions in various organizations, including the National Bank of Kenya, Absa Bank Kenya PLC, PricewaterhouseCoopers, and East African Breweries Limited.

Etemesi has over three decades of experience in Africa, Asia, and the Middle East, including serving in top management positions in Standard Chartered Bank.

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