Dr James Mworia has assumed the role of founding Chief Executive Officer of Kenya’s National Infrastructure Fund, effective September 7, 2026. Mworia steps down from his leadership at Centum Investment Company Plc to lead the State-backed fund through its initial establishment and capital-mobilisation phase.
The National Infrastructure Fund has officially placed its leadership machinery into gear, naming investment veteran Dr James Mworia as its founding Chief Executive Officer following a competitive recruitment process. The announcement, issued on Monday, September 7, 2026, marks an immediate transition for the veteran dealmaker as he steps down from Centum Investment Company Plc after nearly 18 years at the helm.
Mworia joins the State-backed institution at a foundational moment tasked with building the new State-backed fund from the ground up. His appointment comes less than two months after he originally joined the National Infrastructure Fund board on July 8, 2026, as an independent director alongside five other members appointed by Treasury Cabinet Secretary John Mbadi. Trading his oversight seat for the executive suite, Mworia must now translate the fund’s statutory mandate into an operational investment engine.
Mandate and Capital Mobilisation Strategy for the National Infrastructure Fund
Established in March 2026 after receiving approval from the National Assembly, the National Infrastructure Fund is designed to mobilise financing for major public infrastructure projects by blending government seed capital with private sector investments. Section 4 of the National Infrastructure Fund Act, 2026, directs the institution to scale infrastructure development while cutting reliance on public debt for commercially viable works. The fund targets key economic pillars including transport and logistics, energy, information and communications technology, water, and agriculture.
Initial seed money for the vehicle has been sourced from partial sales of government stakes in Safaricom and Kenya Pipeline Company. Over the coming decade, the fund is expected to mobilise nearly KSh5 trillion for critical national networks, including highways, railways, ports, and energy systems. Mworia’s immediate responsibilities include setting up the organisation’s workforce, internal systems, risk-management frameworks, and building a viable project pipeline to attract pension funds, development finance institutions, and private co-investors.
“The Board of the National Infrastructure Fund is pleased to announce the appointment of Dr James Mworia, MBS, as founding Chief Executive Officer, following a competitive recruitment process with effect from 7 September 2026,”
The board, National Infrastructure Fund
The board expressed confidence in Mworia’s capabilities, citing a career spanning more than 25 years in capital allocation and enterprise development. The Board is confident that Dr Mworia’s record of building institutions and enterprises, mobilising capital and bringing investments to market will enable NIF to deliver critical infrastructure,
the board noted in its official notice.
Centum Investment Company Succession and Asset Transformation
Mworia’s departure closes a 17-year chapter as Group CEO and Managing Director of Centum Investment Company Plc, where he operated at the principal-investment level beginning in 2005. During his tenure at the Nairobi Securities Exchange-listed firm, Centum expanded its asset base, with total group assets rising from approximately Sh4 billion in December 2008 to roughly Sh46 billion.
Alongside asset growth, Mworia oversaw balance sheet restructuring that retired Sh20 billion in total group debt—including Sh16 billion at the holding-company level—effectively eliminating holding-company leverage without requiring additional equity. His tenure also featured the development and structuring of investment platforms such as the Vipingo Special Economic Zone, Pearl Marina, and the TRIFIC SEZ.
Following his resignation, Centum’s board named Group Chief Operating Officer Thomas Omondi-Achola as Acting Group CEO with immediate effect under capital markets disclosure rules signed off by chairman Dr Donald Kaberuka. Omondi-Achola has served as Group COO and Partner for Portfolio Operations in Centum Capital Partners since 2018 following a 13-year tenure at Kenya Airways.
Translating Statutes into Bankable Deals
Holding a Bachelor of Laws degree from the University of Nairobi, an Advocate of the High Court of Kenya designation, and credentials as a Certified Public Accountant, Chartered Global Management Accountant, and CFA charterholder, Mworia steps into the state role equipped with financial credentials. Yet, the immediate operational hurdle remains.
No specific project list, opening investment date, or initial ticket size was attached to the founding CEO announcement. Mworia’s primary test will be turning the legislative statute into bankable deals, guiding priority public works through appraisal, and successfully convincing institutional lenders and international financiers to back Kenya’s next generation of public works.
