Collectively, these funds manage assets worth KES 100 trillion ($1 trillion). The U.S. delegation is led by Mobilizing Institutional Investors to Develop Africa’s Infrastructure (MiDA), a partnership between the U.S. National Association of Securities Professionals (NASP) and the United States Agency for International Development (USAID) to increase private sector capital into infrastructure investments in Sub-Saharan Africa.
Since 2017, MiDA members have closed on new deals totaling close to $800 million focusing in Africa and other emerging markets.
“Our delegation of US institutional investors comes to Kenya with a keen interest to explore investment opportunities in the region. While there is currently limited exposure in Kenya, there is great opportunity to scale up these investments,” said Donna Sims Wilson, President of Smith Graham and Chair of NASP.
“We are looking forward to advancing our discussions with our Kenyan counterparts at KEPFIC for mutual support and benefit” said Donna Sims Wilson, President of Smith Graham and Chair of NASP,” he added in a statement issued in Nairobi on Monday.
Historically, infrastructure development in Kenya has been financed by the public sector. However, the country’s current financing gap for infrastructure is $4 billion.
During the mission, executives from the U.S. pension and asset management funds will discuss opportunities with KEPFIC and its membership of 12 Kenyan leading fund managers.