The Nairobi International Financial Centre (NIFC) has been admitted as the 21st member of the World Alliance of International Financial Centers (WAIFC) during its Annual General Meeting in Frankfurt, Germany.

In a statement on September 30, the National Treasury stated that the move affirms Nairobi’s growing stature as “a leading financial hub and a gateway to Africa’s 54 countries, 1.3 billion people, and a combined GDP of USD 3.4 trillion (Ksh 438.43 trillion)”.

Anchored in Kenya’s Vision 2030, the NIFC is designed to attract global investment, deepen the financial sector, and position Nairobi as Africa’s premier investment destination.

Its accession to WAIFC has been described as an elevation of Kenya’s profile on the global stage, unlocking opportunities for enhanced capital flows, innovation, and cross-border collaboration.

“We are delighted to announce that the NIFC has officially been elected a full member of the WAIFC,” read part of the problem.

On its part, NIFC explained that the milestone strengthens its role on the global stage, connecting Nairobi to other leading financial hubs across the world and amplifying our mission to position Kenya as the preferred gateway to investment in Africa.

The NIFC will also join the African Chapter of the WAIFC, underpinning its commitment to working with other African NIFC’s to unlock Africa’s investment potential.

The announcement comes as NIFC CEO Daniel Mainda attended the WAIFC Annual Meeting in Germany, which ended on September 29, 2025.

Details of the Meeting

World Alliance members were addressed by Nguyen Hoa Binh, First Deputy Prime Minister of Vietnam, who briefed the members on Vietnam’s latest IFC project in Ho Chi Minh City and Da Nang.

Notable decisions reached during the AGM included the expansion of the WAIFC membership, with NIFC joining the alliance, bringing the total number of members to 21.

WAIFC described NIFC as a leading financial hub in East Africa, providing an efficient gateway for investors and businesses to access 54 African countries, 1.3 billion people, and a combined GDP of $3.4 trillion.

It stated that NIFC is a key pillar of Kenya’s Vision 2030, a national socio-economic blueprint launched in 2008 to transform Kenya into a middle-income country by 2030 and position Nairobi as Africa’s leading investment destination.

Election of New Board Members

 The General Meeting also elected two new board members and re-elected several other board members, with Hortense Mudenge, the CEO of the Kigali International Financial Centre, and Pawel Widawski, the President of Future Finance Poland, appointed to the board of directors.

Members also agreed to publish a report by the end of the year, regarding the 2025 project exploring the evolution of Artificial Intelligence (AI) in the financial industry.

Bringing together insights from members will give it perspectives from international financial centers worldwide, and assess AI adoption and sourcing, its impact on regulation, and the broader opportunities and challenges shaping the sector.

WAIFC stated that the collaborative effort aims to enhance the global understanding of AI’s role in transforming finance and to support the development of effective governance frameworks.

Members will convene in 2026 for a Board Meeting and an Extraordinary General Meeting in Malta on March 3rd, and the WAIFC Annual General Meeting 2026 will take place in Busan, South Korea, on September 14th.

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