• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.
• Risk cover will target infrastructure, energy, logistics, and trade sectors.
• Agreement aims to cut capital costs and boost investor confidence amid unrest.

Africa Specialty Risks (ASR), a pan-African reinsurer, has partnered with the Kenyan government to provide risk mitigation for projects worth up to 260 billion Kenyan shillings—about $2 billion—in an effort to attract more foreign investment.

The agreement, signed in early July 2025 in London during the Africa Debate Forum, was formalized between ASR and the Nairobi International Financial Centre Authority (NIFCA). ASR, which specializes in covering political, regulatory, and economic risks, will support a range of projects in sectors such as infrastructure, energy, logistics, and trade.

The risk cover is expected to lower the cost of capital, speed up project timelines, and enhance foreign investor confidence. This comes at a time when market volatility and concerns over governance and political stability are putting pressure on Kenya’s investment climate.

The country has been facing a wave of protests since June 25, sparked by rising taxes, corruption, poverty, forced disappearances, and police brutality under President William Ruto’s administration.

The agreement was signed by Amit Khilosia, ASR’s Director of Distribution, and Daniel Mainda, CEO of NIFCA, in the presence of Kenya’s Finance Minister John Mbadi.

It marks a significant step toward structured risk-sharing solutions across Africa and aims to strengthen Kenya’s insurance and reinsurance sectors. The deal also opens the door for local players to invest in high-growth, underinsured industries.