Ndindi Nyoro Sounds Alarm as Government Mortgage Billions in Secret Stadium Bond Borrowing

Nairobi, July 23, 2027

Kiharu MP and former Chair of the National Assembly’s Budget and Appropriations Committee, Ndindi Nyoro, has sounded the alarm over what he terms as “reckless fiscal engineering” by the government following the launch of the Talanta Infrastructure Fund at the Nairobi Securities Exchange today.

Speaking at a press briefing, Nyoro said the government’s move to start secondary trading of the Ksh. 44.8 billion bond through the Talanta Infrastructure Fund is a dangerous path that could push Kenya into a debt and fiscal crisis. The bond, which carries a 15.04% interest rate, will be serviced using revenue from the Sports Fund.

“This is essentially a secret book of debt. The first one was the Fuel Levy. Now we are mortgaging our future revenues for the next 15 years to gain political capital today,” he said.

According to the MP, the government will be required to pay Ksh. 3.4 billion in interest every six months, adding up to over Ksh. 100 billion in interest payments alone over the 15-year period.

Nyoro decried the securitisation of Kenya’s revenue streams, warning that such financial commitments would deprive future administrations of the fiscal space needed to govern effectively. 

“We are now mortgaging every income stream. The excitement of some people in government is putting this country at great risk,” he warned.

He urged national leaders to act with caution and prioritise the long-term health of the economy over short-term political gain.

“Kenyans have always had stadiums. We didn’t invent them today. We’ve built roads and infrastructure before without such reckless borrowing. What we need now is sincere leadership that understands the difference between political convenience and prudent economic planning,” he said.

Nyoro further warned that if the trend continues, the next government may inherit an economy so overburdened with debt obligations that it will lack the capacity to implement its agenda.