ADVOKS GLOBAL · KENYA
National Infrastructure Fund Act
19. Powers of the Board
Edition: 2026-03-11 · In force
19. Powers of the Board
(1)The Board may—(a)invest in projects, including by way of equity investment, or debt based on the bankability of the project, or any other project finance mechanism;(b)acquire and hold security or a security interest, including, a right in a security, of any kind and in any form for the due discharge of obligations under an investment or agreement that it makes;(c)surrender the security, security interest or right in the security and acquire and hold, in exchange, security or a security interest, including, a right in a security, of any kind and in any form;(d)realize the security, security interest or right in the security made, acquired or held by it on the investment or agreement;(e)exchange, sell, assign, convey or otherwise dispose of, or lease, the investment, agreement, security, security interest or right in a security;(f)enter into arrangements or agreements with, and act as agent or mandatory for, any department or agency of the government of Kenya, or any other body or person, for the development of infrastructure projects to, by, on behalf of or jointly with that institution and deliver financial assistance on their behalf under the arrangement or agreement;(g)accept any interest or rights in real property or personal property or any rights in immovable or movables as security for the due performance of any arrangement or agreement with the Fund;(h)determine the form of compensation for services provided by the Fund in the exercise of its powers or the performance of its functions under this Act;(i)acquire and dispose of any interest or right in any entity by any means;(j)acquire, hold, exchange, sell or otherwise dispose of, or lease, any interest or rights in real property;(k)reinvest into the Fund all the proceeds from any exit in an investment;(l)establish special purpose vehicles, pooled investment vehicles, infrastructure funds or other capital market instruments for purposes of mobilizing private capital;(m)approve investments and transactions within the approved Investment Policy;(n)develop the Fund’s business plan, approving of annual budgets and the related funding for the Fund;(o)invest in projects, including by way of equity or quasi-equity, based on the bankability of the projects, in accordance with the Investment Policy of the Fund; and(p)originate projects in accordance with the Investment Policy.(2)Without prejudice to subsection (1), the Board shall−(a)not borrow or take credit against its balance sheet; and(b)only undertake project financing in accordance with this Act.