NAIROBI (Xinhua) --
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
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
Carlos Felipe Jaramillo, World Bank Country Director for
Kenya, Eritrea, Rwanda and Uganda, said that creative harnessing
of pension funds is key to bridging Kenya’s infrastructure
financing gap estimated at 4 billion U.S. dollars.
"A partnership between Kenya and U.S. institutional investors
is key to finance development of infrastructure whose benefits
include poverty reduction and job creation," said Jaramillo.
He said that Kenya can tap into local and foreign pension
funds to invest in projects aligned with the country’s
socio-economic development blue print.
Donna Sims Wilson, president of Smith Graham Investments and
chair of Washington-based National Association of Securities
Professionals, said that U.S. pension fund managers are keen to
invest in Kenya’s infrastructure subject to a predicable
"We are discussing with local partners like government
managed pension funds to facilitate investments in power, water
and transportation," said Wilson.
Nzomo Mutuku, CEO of Kenya’s Retirement Benefits Authority,
said that investments in infrastructure has gained traction
among local and foreign pension fund managers since they are
guaranteed of long-term financial rewards.