Members of Parliament are demanding answers from President William Ruto’s government over a controversial financing model for the Talanta Sports City project, warning it will burden Kenyans with a debt burden for more than 15 years.
The National Assembly’s Committee on Sports and Culture raised alarm over the Treasury’s decision to securitise the Sports, Arts and Social Development Fund (SASDF) to raise over Ksh44 billion for the multi-billion-shilling stadium project.
The project is one of Kenya’s flagship venues for the 2027 Africa Cup of Nations (AFCON).
At a tense session held on September 30 at Bunge Tower, lawmakers grilled Sports Principal Secretary Elijah Mwangi and the National Treasury’s Director General for Public Investment and Portfolio Management, Lawrence Bet, over what they called a “rushed and opaque” financing plan.
Paying Double for the Talanta Sports City project
It was revealed that the bond was listed on the Nairobi Securities Exchange in July 2025 and will be repaid over 15 years at an interest rate of 7.93%.
But MPs said the move amounts to mortgaging Kenya’s future.
“By the time this bond matures, Kenyans will have paid back more than Ksh97 billion, more than double the borrowed amount,” said Matungulu MP Stephen Mule.
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“This is a colossal amount to extract from already overtaxed citizens.”
Lawmakers also raised questions about the sustainability of the Sports Fund, noting that recent government crackdowns on betting —a contributor to the fund —could jeopardize repayment.
“How will you repay this loan when you are cutting off the source of revenue?” Mule asked.
The committee, chaired by Webuye West MP Dan Wanyama, expressed further concern that the plan was approved without public participation.
“There was no advertisement, no stakeholder engagement, Kenyans were kept in the dark,” said Mwingi West MP Charles Nguna. “This is against the Constitution.”
Govt Keeping Kenyans in the Dark
Committee Vice-Chair James Wamacukuru (Kabete) accused the Treasury of stonewalling Parliament by failing to provide necessary documentation to support the securitisation deal.
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“The submissions have been shallow and lack evidence. How do we justify this to the public?” Wamacukuru said, calling on Treasury to explain how ordinary Kenyans will benefit from the high-stakes project.
The committee also faulted the Treasury for delayed disbursement of funds to semi-autonomous government agencies (SAGAs), despite Parliament having approved the allocations.
“SAGAs are in financial distress because Treasury is dragging its feet. This is affecting service delivery,” said Wanyama, directing the Treasury to release the funds without further delay.
The government has defended the Talanta Sports City as a key legacy project ahead of Kenya’s co-hosting of AFCON 2027 with Uganda and Tanzania.
On September 11, 2025, President Ruto toured the stadium to inspect the progress of the ongoing construction. He noted that the facility would meet international standards ahead of the 2027 football extravaganza.
“Talanta Stadium is on course. Built to meet Confederation of African Football (CAF) standards, it will serve as the premier venue for the 2027 Africa Cup of Nations (AFCON) and other major sporting events,” said the Head of State.
He added, “Beyond sports, it will be a hub for concerts, cultural festivals, and national celebrations, strengthening Kenya’s sporting and creative economy.”
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