President William Ruto has described the listing of the Linzi 003 Infrastructure Asset-Backed Security, which raised over Sh44 billion, as a “historic milestone” in Kenya’s development journey, marking a shift toward market-driven infrastructure financing.
Speaking at the Nairobi Securities Exchange (NSE) during the ceremonial bell-ringing event, President Ruto said the successful listing demonstrated growing investor confidence and the viability of using capital markets to fund major public projects.
“This listing confirms our confidence in market-based financing and shows how we can sustainably fund large-scale infrastructure through our financial markets,” Ruto said.The funds raised will be directed towards the construction of the Talanta Sports City, a state-of-the-art 60,000-seater stadium.
The facility is envisioned as a key element in transforming Kenya into a global sports powerhouse, both in terms of hosting international events and nurturing local talent.
The Linzi 003 bond is the first infrastructure asset-backed security to be listed in Kenya, and represents a new financial model that leverages long-term cash flows from infrastructure assets to back tradable securities. Its success could pave the way for similar deals in sectors such as energy, housing, and transport.
