Treasury Cabinet Secretary John Mbadi has refuted reports claiming he admitted to lying about the National Infrastructure Fund. Speaking on March 4, 2026, he insisted the fund's bill is nearing approval in Parliament. He argued that communication gaps should not be seen as dishonesty.
Treasury Cabinet Secretary John Mbadi responded to a report in The Standard newspaper that claimed he admitted in court to misleading MPs and Kenyans about the structure and legal status of the proposed National Infrastructure Fund (NIF). This occurred during the announcement of the Kenya Pipeline Company Initial Public Offering (IPO) results on March 4, 2026.
According to The Standard, Mbadi had sworn in court that the NIF existed and was registered, but he informed the court that the fund was never incorporated and that even its name had not been secured. The newspaper questioned who authorized the establishment of the fund, as the High Court continues to probe the constitutionality of the private investment vehicle.
However, Mbadi strongly denied the claims, stating there was no contradiction in his statements and that the fund was currently before Parliament awaiting approval. "Let me be very clear, the National Infrastructure Fund Bill is in the National Assembly. It is not going to the Senate, and the debate about it is almost concluded, so we have the Fund," Mbadi said.
He added, "This is because we know that Kenyans are very interesting, you can wake up and find someone has already registered the national infrastructure fund as a political party, and now you will not be able to register it as an investment entity."
Mbadi described the newspaper's headline as sensational, maintaining that communication gaps should not be regarded as dishonesty. "My role is to communicate. But I cannot determine how you understand me. You also have the right to try to manipulate what I say. But what I said will remain," the CS reiterated.
According to him, the NIF is not designed to operate through the usual government budget allocation process but instead as an investment vehicle aimed at attracting private-sector capital into national projects. “This fund is to pump private sector investment into projects. Do not look at it like a donor somewhere to give money to a project,” Mbadi stated.
He said every project proposed under the Fund would undergo feasibility studies and commercial viability assessments before funding approval.