NAIROBI, July 23(Xinhua) -- Kenyan President William Ruto on Wednesday launched a bond at the Nairobi Securities Exchange to fund the construction of the Chinese-built Talanta Sports City Stadium.
Ruto said the listing of the Linzi 003 Infrastructure Asset-Backed Security will raise over 44 billion Kenyan shillings (about 340.6 million U.S. dollars), which is a landmark achievement that affirms the country's confidence in market-based financing.
"The proceeds from this listing will support the construction of the world-class 60,000-seater Talanta Sports City Stadium that will redefine our global reputation as a sporting powerhouse," Ruto said in Nairobi, Kenya's capital.
The FIFA-standard professional stadium, currently under construction by China Road and Bridge Corporation, is slated for completion by the end of 2025. It will serve as a main venue for the opening and closing ceremonies, as well as matches of the 2027 Africa Cup of Nations (AFCON).
Ruto added that the listing reflects not only the deepening of Kenya's capital markets, but also the growing innovation and sophistication driving financial solutions that meet the evolving needs of both the public and private sectors.
He observed that the bond also confirms the country's capacity to mobilize substantial domestic capital to finance strategic national priorities, reduce reliance on external borrowing, and strengthen Kenya's economic resilience.
A single purchase
