Nairobi: African governments have been urged to strengthen public investment management to unlock greater value from State-owned assets, attract private capital, and boost the continent’s capacity to finance its own development. Principal Secretary for Public Investments and Assets Management, Cyrell Wagunda, emphasized the importance of improving public investments while fostering an environment conducive to attracting institutional and private investors during the inaugural Africa Capital Week 2026.
According to Kenya News Agency, Wagunda highlighted the continent’s growing infrastructure, industrialization, digital connectivity, and climate resilience needs, which require innovative and sustainable financing solutions. He called for a focus on proper planning, rigorous project appraisal, and effective monitoring to ensure public investments yield economic and social benefits. Wagunda stated that every investment, whether in shillings, Naira, Rand, Kwacha, or Dollars, should deliver measurable returns.
The Principal Secretary emphasized the importance of strong Public Investment Management systems for improving project preparation, reducing investment risks, and creating a pipeline of investment-ready projects. He urged governments to maximize returns from public assets through stronger governance, proper valuation, digitization, and structured commercialization where appropriate.
Wagunda referenced Kenya Pipeline Company’s initial public offering at the Nairobi Securities Exchange as an example of capital markets expanding investment opportunities. He advocated for the diversification of development financing through instruments like infrastructure bonds and asset-backed securities.
The recently launched Sovereign Wealth Fund and Infrastructure Fund in Kenya were noted as efforts to expand financing options and mobilize domestic capital for development. Wagunda also highlighted Public-Private Partnerships as crucial for infrastructure financing, stressing the need for transparency, accountability, and good governance to build investor confidence.
Wagunda pointed out that Africa’s expanding pension, insurance, and sovereign investment assets could support development if matched with credible and investment-ready projects. He encouraged responsible asset recycling, structured divestitures, and public asset monetization while safeguarding strategic national interests.
He concluded by urging the development of an integrated investment ecosystem that complements public investment management, asset management, capital markets, and private-sector participation. Wagunda challenged participants at Africa Capital Week to translate discussions into practical partnerships, policy reforms, and investments to strengthen Africa’s ability to mobilize capital and advance economic sovereignty.
