Linzi Bond, Other Ways William Ruto Seeks to Raise Funds to Fund Key Infrastructure Projects
- President William Ruto's administration welcomed the listing of Linzi 003 bond at the Nairobi Securities Exchange (NSE)
- Ruto said the bond will raise KSh 45 billion required for the construction of the 60,000-seater Talanta Stadium
- The head of state also cited other ways the government is using to raise funding for key infrastructure projects
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Wycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting, providing deep insights into Kenyan and global economic trends. He currently works as a business editor at TUKO.co.ke.
Talanta is Kenya’s first large-scale, purpose-built international stadium project in more than 40 years.
Source: Facebook
TABLE OF CONTENTS
President William Ruto said the stadium will change the face of Kenya, redefining the nation’s sporting landscape.
How much is required for construction of Talanta
Speaking in Nairobi on Wednesday, July 23, Ruto said the stadium requires KSh 44.9 billion to be completed.
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The head of state cited his administration's commitment to market-based sustainable financing to fund large-scale infrastructure.
"The listing of Linzi 003 bond affirms our confidence in market-based financing and demonstrates how we can sustainably fund large-scale infrastructure through our capital markets. The feat joins other models of innovative financing, which many countries are learning from us," said Ruto.
Which financing models does Ruto employ?
Ruto highlighted sustainable financing models that the government is using to finance key infrastructural projects.
These are:
1. Bonds (Linzi Finco 003)
The president revealed that the listing of the Linzi 003 bond at the Nairobi Securities Exchange (NSE) will raise the KSh 44.9 billion required for the construction of Talanta Stadium.
Ruto's administration also uses Treasury bonds to raise funds for budgetary support. The Central Bank of Kenya (CBK) recently reopened the 15-year and 19-year infrastructure bonds, seeking to raise KSh 90 billion.
2. Securitisation of fuel levy
In June 2025, the Ministry of Roads and Transport announced the securitisation of KSh 7 from the Road Maintenance levy (RML).
Transport CS Davis Chirchir said the model raised KSh 175 billion to fund the construction, maintenance of roads and clear the sector pending bills.
President Ruto noted that the money was raised off-balance sheets.
Source: Twitter
3. Currency diversification
President William Ruto revealed that his government resorted to a currency diversification strategy.
Currency diversification is when a country uses more than one currency as an investing or financing strategy.
It is mainly used to mitigate foreign exchange rate risks.
The government diversified its currency to import petroleum products using the Kenyan shilling, under a government-to-government (G2G) agreement with the Gulf nations.
According to the Petroleum Outlets Association of Kenya (POAK) chair, Martin Chomba, the move has stabilised the shilling.
"I know one of the things that G2G has done, very, very importantly, is to stabilise our forex. We can take everything away from G2G, but we cannot take that away from them," said Chomba in an exclusive interview with TUKO.co.ke.
What Kenyans said about Linzi bond
The listing of the Linzi 003 bond sparked debate among Kenyans over the KSh 44.9 billion proceeds to finance the Talanta Stadium.
The majority raised concerns over the cost of the stadium and compared it with regional and international stadiums.
Others faulted the government over the loan that will overburden taxpayers.
Source: TUKO.co.ke
