The government of Kenya has struck a high-stakes deal that could unlock over Ksh260 billion ($2 billion) in investments by insulating foreign capital from risk, a move the National Treasury says could dramatically reshape investor confidence in the country.
The Nairobi International Financial Centre Authority (NIFCA), under the National Treasury, signed a landmark agreement with Africa Specialty Risks (ASR) - a leading global underwriter - during the ongoing Africa Debate Forum in London.
The deal was signed by NIFCA CEO Daniel Mainda and ASR’s Chief Distribution Officer Amit Khilosia, with Treasury CS John Mbadi and Industry CS Lee Kinyanjui present as witnesses, signalling top-level government endorsement.
Under the agreement, ASR will provide de-risking support for up to Ksh260 billion ($2 billion) in projects across Kenya, using its access to AA-rated global capacity and its deep reinsurance expertise.
The goal is to make Kenya a safer and more attractive destination for global investors who have been wary of political, economic, or regulatory volatility.
By absorbing some of the investment risk, ASR will help reduce the cost of capital, fast-track deal execution, and unlock funding for critical projects in sectors like infrastructure, energy, logistics, and trade. This could lead to an influx of private equity, sovereign wealth, and institutional funds that had previously stayed on the sidelines.
The deal is also expected to catalyse growth in Kenya’s local specialty insurance and reinsurance markets, which have traditionally been underdeveloped, and provide macroeconomic support in times of shock or disruption.
This de-risking mechanism — rarely deployed at scale in African markets — places Nairobi among a select group of cities actively lowering barriers for foreign direct investment (FDI). It reinforces Kenya’s ambition to become the financial capital of East and Central Africa.
At the same time, Kenya signed an agreement with Bupa Group, which will aim to catalyse healthcare investment, supporting the growth of high-quality health financing solutions and services.
According to the government, the agreements reached in London will unlock Kenyan capabilities to attract inflows into reinsurance, healthcare, infrastructure, and sustainable finance.
''Together, these agreements represent a new chapter for Kenya’s financial services sector, unlocking capital flows into reinsurance, healthcare, infrastructure, and sustainable finance. As global trade and investment flows shift, NIFCA is leading the charge to attract premier global institutions into the Nairobi International Financial Centre — driving innovation, resilience, and long-term economic transformation,'' the Treasury said in a statement.
Additionally, the government also secured a partnership with the Africa Finance Corporation, a deal that is expected to accelerate investment in key sectors such as infrastructure and green finance, aligning with Kenya’s sustainability goals and broader regional development strategies.
