Kenyan Fund Manager Spearhead Plans to Raise $116 Million for Projects Fund

Spearhead Africa Asset Management Ltd., a Kenyan fund manager, plans to raise 15 billion shillings ($115.9 million) and make the money available to infrastructure developers in the form of long-term loans denominated in local currency.

The Spearhead Africa Infrastructure Fund had already raised 3.5 billion shillings by the end of March from investors including pension funds, an insurer and Mobilist, a program that falls under the UK government’s Foreign, Commonwealth & Development Office, Managing Director Ngatia Kirungie said.