Ruto Hails Historic Sh44 Billion Linzi Bond Listing to Fund Talanta Stadium
The Linzi 003 Security is the first infrastructure asset-backed security of its kind in Kenya, and its success marks a significant shift in how the country approaches development financing.
President William Ruto on Tuesday celebrated a groundbreaking achievement in Kenya’s financial sector with the listing of the Linzi 003 Infrastructure Asset-Backed Security at the Nairobi Securities Exchange, which raised over Sh44 billion. Photo/William Ruto.
By Robert Assad
President William Ruto on Tuesday celebrated a groundbreaking achievement in Kenya’s financial sector with the listing of the Linzi 003 Infrastructure Asset-Backed Security at the Nairobi Securities Exchange, which raised over Sh44 billion.
Ruto said the landmark issuance demonstrates Kenya’s growing confidence in market-based financing and opens new avenues for funding large-scale infrastructure through domestic financial markets.
“It confirms our confidence in market-based financing and demonstrates how we can sustainably fund large-scale infrastructure through our financial markets,” he said.
The Linzi 003 Security is the first infrastructure asset-backed security of its kind in Kenya, and its success marks a significant shift in how the country approaches development financing.
Proceeds from the listing will fund the construction of the Talanta Sports City Stadium, a planned 60,000-seat venue expected to enhance Kenya’s profile as an international sporting destination.
“The Talanta Stadium will redefine our global reputation as a sporting powerhouse,” Ruto said during the bell-ringing ceremony at the Nairobi Securities Exchange.
The president emphasized that leveraging capital markets not only reduces dependence on public borrowing but also empowers Kenyan investors and institutions to participate in the country’s development agenda.
The Talanta Sports City project is part of Kenya’s broader strategy to prepare for hosting major continental and global sports events, including bids for future Africa Cup of Nations and Commonwealth Games.
The successful listing sets a precedent for future infrastructure projects to tap into Kenya’s capital markets for sustainable growth, Ruto added.
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