Waugh, who retired from the sport in January 2004, said earlier this week that he hopes to help Zimbabwe, Bangladesh and Kenya improve their cricket.
"We are already in discussion with a member of the Steve Waugh Foundation on the formalities of starting a pilot scheme for underprivileged children in the country," said Tom Tikolo, chief executive of Kenya Cricket Association (KCA).
"Steve has been symbolic with his humanitarian work in India. He may be able to extend the same to Kenya," he told AFP on Wednesday, adding that the retired skipper will likely travel to Kenya to launch the project.
Waugh has often criticised the little support offered to lessen the gap in abilities between the sport's emerging talents and Test-playing nations, saying it would fester as long as developing countries were left to struggle on their own.