The fund will channel public and private capital into major
infrastructure projects across the country.
Speaking on Monday during the commissioning of Phase One
Horizontal Infrastructure at Konza Technopolis, Ruto said the fund will be a
game-changer in powering industrial growth, improving food security, and
enhancing regional connectivity.
“Putting together resources from our budget, building
resources from the private sector, and resources from the privatisation, we
will create a big pool of resources that we can use in an innovative manner
just as other countries have done,” said the President.
To match Kenya’s growing industrial ambitions, Ruto revealed
that the country will need more than Sh1 trillion to expand electricity
capacity from 2,300MW to 12,000MW within the next 5–7 years.
In the agriculture sector, Sh1.5 trillion will be invested
in the construction of 50 mega dams, aiming to irrigate over two million acres
and reduce Kenya’s dependency on food imports — currently costing the country
KSh500 billion annually.
On road infrastructure, another Sh1.5 trillion is needed to
build 1,000km of dual carriageways, pave 10,000km of roads, extend the Standard
Gauge Railway (SGR) to neighbouring countries, and modernise the Jomo Kenyatta
International Airport.
“We have stabilised our food security, but that is not
enough. We need to stop importing food,” said Ruto.
Ruto pointed to South Korea as a model of economic
transformation.
“Kenya and South Korea had the same GDP when Kenya became
independent in 1963. But today, South Korea's GDP is 20 times bigger than
Kenya's,” he noted.
He urged Kenyans to embrace difficult but strategic reforms
that would propel the country to similar levels of development.
Ruto reiterated the government’s commitment to transforming
Konza into Africa’s premier smart city and a hub of innovation.
Phase One of the infrastructure — now complete — includes
smart features such as an Artificial Intelligence-driven operations centre and
a wastewater reclamation plant that recycles 90 per cent of used water.
To further support Konza’s growth, the government will dual
the Machakos Junction–Emali section of the Mombasa highway, extend water supply
through the Northern Collector Tunnel and Nolturesh pipeline, connect Konza to
the SGR line for direct linkage to Mombasa Port and establish a vaccine
production facility to boost Kenya's biomedical capabilities.
“We will continue to mobilise resources, attract investors,
and strengthen partnerships to make Konza Africa’s smartest city and the
beating heart of the Silicon Savannah,” Ruto said.
The commissioning event was attended by top government
officials, including Cabinet Secretaries William Kabogo (ICT) and Alice Wahome
(Lands and Housing), and Governors Mutula Kilonzo Jnr (Makueni), Joseph ole
Lenku (Kajiado), and Wisley Rotich (Elgeyo Marakwet).
Also present were ICT Principal Secretary John Tanui, South
Korean Ambassador to Kenya Kang Hyung-shik, and Italian Deputy Ambassador
Lorenza Maria Gambacorta.