NAIROBI, Kenya-LINZI FinCo Trust has issued a Sh 44.7 billion Infrastructure Asset-Backed Security (IABS) on the Nairobi Securities Exchange (NSE) aimed at supporting the construction of Talanta Sports City to support government preparedness for the 2027 Africa Cup of Nations (AFCON).
Speaking during the bell-ringing ceremony to mark the listing, President William Ruto hailed the transaction as a milestone in Kenya’s efforts to leverage capital markets for national development.
“The successful origination, structuring, and listing of the Linzi 003 Infrastructure Asset-Backed Security, the first of its kind in Kenya, raising over Sh 44 billion, is a landmark achievement,” said the President.
“It affirms our confidence in market-based financing and demonstrates how we can sustainably fund large-scale infrastructure through our capital markets.”
The funds will go directly into the development of the 60,000-seater Talanta Sports City.
Once completed, the complex is expected to meet international standards, providing a venue for global tournaments and serving as a hub for nurturing local sports talent.
The head of state lauded the broader shift in Kenya’s financial strategy, highlighting the country’s use of asset-backed securitization and a currency diversification plan that are helping to cut reliance on external loans and lower borrowing costs.
“This listing reflects not only the deepening of our capital markets, but also the innovation and sophistication now driving financial solutions that respond to evolving public and private sector needs.”
He commended the Nairobi Securities Exchange for facilitating three significant listings in a single month; the Sh 44.7 billion Linzi 003 Infrastructure Asset-Backed Security to fund Talanta Sports City; the Sh 3 billion Sharia-compliant Linzi Sukuk to support affordable housing; and the Satrix MSCI World Feeder Exchange-Traded Fund (ETF), which offers investors access to global equities.
