Nairobi seeks green bond to fast track development projects in the city, Sakaja says
Nairobi county governor Johnson Sakaja says that the county is looking for innovative ways to finance infrastructural development projects in partnership with the capital markets.
Speaking during the Nairobi Securities Exchange Market Place graced by President William Ruto, the governor said that he is thinking of an infrastructure green bond to inaugurate projects as well as work with partners like Kenya invest, Nairobi security exchange, Nairobi international financial center to make Nairobi the leading investment hub in Africa.
“We are thinking of innovative ways of attracting capital to finance our projects in this city, unless we become creative we will not be able to achieve this but Kenyans are willing to put their money in there,” said Sakaja during the NSE Market Place.
Sakaja said city utilities such as the Nairobi Water and Sewerage Company needs Sh30 billion to allow it to implement its projects to expand water provision networks and sewage systems to meet city demands, and this he said can be achieved through new ways of getting revenue.
“This visit by President William Ruto for the launch of NSE Market Place highlights the government’s efforts to stimulate private investment in public assets and projects with a view to reduce reliance on foreign debt and boosting economic recovery,” added sakaja.
