President William Ruto has assured Kenyans that the government will not levy new taxes or pile up unsustainable debt to raise the Sh5 trillion required for the country’s next phase of infrastructure transformation.
Speaking while outlining his administration’s 10-year development agenda, the President said the ambitious programme—which includes massive upgrades in roads, energy production and water infrastructure—will be financed primarily through capital markets and platforms such as the Nairobi Securities Exchange (NSE).
Ruto detailed the scale of the planned investments: the dualling of 2,500 kilometres of highways, construction of 28,000 kilometres of additional tarmacked roads, an increase in installed electricity generation capacity from 3,300MW to 10,000MW, and the construction of 50 mega dams, 200 mini-dams and 1,000 micro-dams to expand irrigation by 2.5 million acres.
“Delivering this scale of transformation requires mobilising close to KSh5 trillion. We intend to achieve this without imposing additional burdens on taxpayers or accumulating unsustainable debt,” Ruto said.The President argued that Kenya’s capital markets hold the key to unlocking long-term financing for infrastructure without overreliance on the exchequer.
He said platforms like the NSE will be critical in mobilising private investment and creating new financing instruments tailored for large-scale public projects.
Ruto’s remarks come amid heightened public concern over the tax burden and Kenya’s rising debt levels.
His assurance signals a shift toward market-driven infrastructure financing, including public-private partnerships, infrastructure bonds, and other innovative market instruments.
The government is expected to unveil detailed financing models in the coming months as it works to operationalise the multi-trillion-shilling development plan.
