Dr James Mworia has been appointed the first Chief Executive Officer of Kenya’s National Infrastructure Fund (NIF), with the role taking effect on September 7, 2026. He steps down as Group CEO and Managing Director of Centum Investment Company after nearly 18 years at the helm.
The NIF Board said Mworia secured the position through a competitive recruitment process. He had served as an independent director on the same board since his appointment on July 8, 2026. Taking the executive role ends his board seat, in line with the fund’s governing Act.
Centum’s board has appointed Thomas Omondi-Achola, the Group Chief Operating Officer and Partner for Portfolio Operations, as Acting Group CEO with immediate effect to ensure continuity. The company confirmed the transition in its official announcement.
What the Appointment Means
Mworia’s four-year term as founding CEO begins immediately. The board may reappoint him for a further term.
His first tasks include building the fund’s organisational structure, operational systems and staff, establishing governance and risk frameworks, mobilising co-investment capital, and creating a pipeline of infrastructure projects.
The NIF Board said his record in building institutions, mobilising capital and bringing investments to market makes him well suited to lead the new state corporation. Full details appear in the board statement and related coverage by People Daily.
What is the National Infrastructure Fund?
The NIF was established under the National Infrastructure Fund Act, 2026 (Act No. 4 of 2026), signed into law in March 2026. It is designed to finance large-scale, commercially viable infrastructure while reducing Kenya’s reliance on public debt and taxes.
The fund aims to mobilise up to KSh 5 trillion over the next decade. Seed capital has come from privatisation proceeds, including the partial sale of government shares in Safaricom (reported around KSh 244 billion) and other assets. Total capital already mobilised is reported at about KSh 350 billion in some official updates.
Priority sectors include transport and logistics (roads, rail, ports, airports), energy, ICT, water and agriculture.
The model relies on blending public seed capital with private investment from pension funds, sovereign wealth funds, development finance institutions and commercial partners. Successful projects are expected to recycle capital back into new investments.
Mworia’s Career at a Glance
Mworia is one of East Africa’s best-known investment executives. He joined Centum in 2001 as a young graduate in a junior role and rose rapidly.
- 2005: Appointed Head of Investments
- 2008: Became Managing Director and Group CEO at age 30, then the youngest CEO of an NSE-listed company
- Nearly 18 years as Centum CEO, one of the longest continuous tenures at a major listed firm
Under his leadership, Centum’s asset base expanded significantly (from roughly KSh 6 billion in the early years of his tenure to tens of billions). He oversaw major projects including Two Rivers and the Two Rivers International Finance and Innovation Centre (TRIFIC), a services Special Economic Zone. The group also invested across real estate, banking (including Sidian Bank), beverages, energy and education.
He is an Advocate of the High Court of Kenya, a Chartered Financial Analyst (CFA), a Certified Public Accountant (CPA-K) and holds an honorary Doctor of Business degree from Machakos University, where he has served as Chancellor. He was awarded the Moran of the Burning Spear (MBS) for contributions to enterprise.
Centum Transition
Thomas Omondi-Achola takes over as Acting Group CEO. He has served as Group COO since 2018 and has more than 25 years of executive experience. Centum said the appointment forms part of its succession plan and will maintain strategic and operational momentum. See the full Centum leadership update.
Mworia leaves after guiding Centum through debt reduction at the holding company level and multiple portfolio exits and developments.
Why It Matters
The appointment places an experienced private-sector investor at the head of a new public vehicle expected to reshape how Kenya finances roads, energy, water and other major projects. Success will depend on attracting private capital at scale, structuring bankable projects and delivering transparent returns.
For Centum shareholders, the leadership change ends a long era and tests the depth of the company’s management bench.
Bottom Line
James Mworia moves from leading East Africa’s largest listed investment company to founding CEO of the National Infrastructure Fund on September 7, 2026. Thomas Omondi-Achola steps in as Acting CEO at Centum. The NIF now has its first executive leader as it begins full operationalisation.
Sources:
The Star – NIF appoints James Mworia as founding CEO;
Kenyans.co.ke – James Mworia appointed first CEO of NIF;
People Daily – Mworia leaves NIF board role to become founding CEO;
People Daily – Centum names Thomas Omondi-Achola acting CEO;
YNews – James Mworia ends 18-year Centum reign for NIF;
allAfrica / Capital FM;
National Infrastructure Fund Act, 2026.