Kiharu MP Ndindi Nyoro says the Ksh 44.7 billion bond floated for Nairobi’s planned Talanta Sports Stadium could balloon into a Ksh 100 billion bill for taxpayers.

The 60,000-seat arena, billed as the marquee venue for the 2027 Africa Cup of Nations, will be financed through a securitized bond issued by private vehicle ‘Linzi Finco’.

Nyoro, a former chair of Parliament’s Budget and Appropriations Committee, calls the approach “a second set of debt books” that hides the real cost from the public.

“The government is coming up with these new facilities to hoodwink us that our debt is good, but in the real sense, we are now running two sets of debt books,” he said.

He argues compounding interest and fees could more than double the original figure, saddling children born today with a hefty repayment.

“The maturity of this loan of Ksh 44.7 billion means we could pay up to Ksh 100 billion. If this cannot make us angry as Kenyans, I don’t know what will,” Nyoro added.

“Every child born in the next 15 years will have a loan tag for money they have no idea how it was used.” The MP explained how taxpayers will foot the Sh3.4 million interest payments every 6 months for the next one and a half decades.

“What is the urgency to overburden the country with a Sh44 billion loan, which upon maturity will have cost us more than double in interest alone?” he wondered.

President William Ruto defends the plan, calling it part of broader “public-finance innovation” unveiled at the Nairobi Securities Exchange. He cites the government-to-government fuel deal and an earlier asset-backed securitization that has already raised Ksh 175 billion outside the annual budget.

Nyoro remains unconvinced, claiming senior Treasury technocrats privately share his misgivings.

The Talanta Sports Complex has a completion date of December this year and will be Kenya’s first international stadium in decades. It is expected to be the main venue for the 2027 AFCON, set to be hosted by Kenya, Uganda and Tanzania.