CPF Capital partners with US firm to raise funds for Nairobi-Mombasa Expressway

The signing of the Transaction Advisory and Placement Services Agreement marks a significant step in Kenya’s infrastructure investment, bringing together key financial players from PHC, including pension funds, fund managers, investment banks, insurance companies, and commercial banks.

The consortium aims to raise capital through the financial markets, setting a model for future infrastructure financing in Kenya and the region.

The Usahihi Expressway—named after the Kiswahili word for "done correctly"—is a 440-kilometer, four-lane dual carriageway linking Nairobi and Mombasa. With an estimated cost of USD 3.5 billion, the project is one of Kenya’s largest infrastructure investments, aimed at transforming the Nairobi-Mombasa corridor into an economic hub.

“This project goes beyond infrastructure—it represents a shift towards private-sector-led investments in Kenya’s economy. It highlights the role of domestic institutional capital in driving economic growth and demonstrates the power of strategic partnerships between local and international investors. By fostering an investment-friendly environment, we are laying the foundation for sustainable development, job creation, and long-term prosperity,” said CPF Group Managing Director Dr. Hosea Kili MBS.

The initiative, supported by PHC, involves key industry associations, including the Association of Pension Trustees and Administrators of Kenya (APTAK), the Fund Managers Association (FMA), the Kenya Association of Stockbrokers & Investment Banks (KASIB), the Kenya Bankers Association (KBA), the Association of Kenyan Insurers (AKI), and the Association of Retirement Benefits Schemes (ARBS). The collective effort seeks to bridge Kenya’s infrastructure financing gaps, focusing on large-scale projects under the Public-Private Partnership (PPP) model.

“For the first time in Africa, local pension funds and financial institutions are committing over $1 billion to their own infrastructure. Usahihi represents the shift from aid to trade, paving the way for self-reliance. Everstrong, as the lead sponsor of the Usahihi Consortium, looks forward to working with CPF and Kenya to develop this future-focused expressway,” said Ambassador Kyle McCarter, Chairman of Usahihi Expressway Limited.

Mercy Thuo, Acting Executive Director of CPF Capital & Advisory, emphasized the company's dedication to advancing Kenya’s capital markets and infrastructure financing. “This initiative underscores our commitment to innovative investment solutions that will shape Kenya’s economic and financial landscape.”