U.S. pension fund managers pledge investments in Kenya’s infrastructure
More than 30 representatives of U.S. pension and assets management funds said on Monday they plan to channel capital towards development of critical infrastructure in Kenya.
The senior executives who manage assets worth about 100 trillion Kenyan shillings (about 1 trillion U.S. dollars) said they are keen to invest in roads, water, sanitation and housing projects to help realize socio-economic transformation in Kenya.
“By moving from traditional investments in stocks and bonds to new opportunities in Kenyan roads, power plant and enterprises, Kenyan and U.S. pension funds will strengthen commercial ties between our two countries,” said Kyle McCarter, the U.S. ambassador to Kenya.
“These investments will benefit both countries and enhance the economic security of Kenyan and American retirees,” he added.
Kenyan and U.S. pension fund managers are meeting in Nairobi from April 1 to 3 to explore investment opportunities in the East African Nation’s infrastructure.
The U.S. Agency for International Development has partnered with the World Bank, UN Economic Commission for Africa and Kenya Pension Fund Investment Consortium to organize the high-level forum to discuss bankable projects that would bridge Kenya’s infrastructure gap.
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