Ndindi Nyoro Warns Ksh.44.7B Talanta stadium To Cost Kenyans Ksh.100B
Linzi Finco’s Ksh.44.7 billion bond to fund the construction of the Talanta Sports Stadium has sparked sharp criticism.
Former National Assembly Budget Chair Ndindi Nyoro has warned that the plan could leave Kenyans with high debt.
The 60,000-seat Talanta Sports Complex, which is set to host the Africa Cup of Nations in 2027, is at the center of a developing financial debate.
The government is relying on a securitization fundraising approach to fund the megaproject, a decision that has polarized opinion in economic and political sectors.
President William Ruto unveiled the project in Nairobi amid hoopla, but his former budget chair has highlighted concerns.
Nyoro has accused the administration of using dangerous financing methods that lack transparency and long-term viability.
“The government is coming up with these new facilities to hoodwink us that our debt is good, but in the real sense, we are now running two sets of debt books,” said Ndindi Nyoro.
All about Talanta Infrastructure Bond/ debt and pushing Kenya into a debt and Fiscal cliff.
— Ndindi Nyoro (@NdindiNyoro) July 23, 2025
The story of a Debt of Ksh 44.8Bn that Kenyans will pay Ksh 100Bn on interest alone.
We are African and Africa is our Business.. pic.twitter.com/aZfbFsoheR
According to the Kiharu legislator, the Ksh.44.7 billion bond may end up costing taxpayers up to Ksh.100 billion when it matures.
“The maturity of this loan of Ksh.44.7 billion means we could pay up to Ksh.100 billion. If this cannot make us angry as Kenyans, I don’t know what will,” said Nyoro.
“Every child born in the next 15 years will have a loan tag for money they have no idea how it was used.”
President Ruto defended the funding mechanism, telling attendees at the Nairobi Securities Exchange that the bond sale is part of a larger innovation in public financing.
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He mentioned it among other efforts such as the government-to-government fuel supply scheme and asset-backed infrastructure securitization, which he claims have already generated Ksh.175 billion outside of the conventional budget.
But Nyoro is doubtful, claiming that other senior Treasury officials are also skeptical.
“I can tell you without blinking an eye that top Treasury officials who have experience are not in support of this move,” he said.
Despite the concerns, the government maintains that its new borrowing instruments through the NSE will strengthen Kenya’s capacity to fund key infrastructure projects using local capital, thereby reducing the country’s reliance on foreign loans.
Ndindi Nyoro Warns Ksh.44.7B Talanta stadium To Cost Kenyans Ksh.100B
