MPs question plan to securitize Sports Fund for Talanta Sports City project
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Reading Time: 2min | Thu. 02.10.25. | 11:50
Wanyama questioned how the government intends to recover the massive investment in the project, warning that the securitization approach could impose a heavy burden on taxpayers
The Departmental Committee on Sports and Culture has raised concerns over the government’s plan to securitize the Sports, Arts, and Social Development Fund (SASDF) to finance the multibillion-shilling Talanta Sports City, one of the flagship facilities earmarked for the 2027 Africa Cup of Nations (AFCON).
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The Committee, chaired by Webuye West MP Dan Wanyama, met with the National Treasury’s Director General for Public Investment and Portfolio Management, Lawrence Bet, and the Principal Secretary for Sports, Elijah Mwangi, to deliberate on the proposed financing model and the reallocation of SASDF funds to various semi-autonomous government agencies.
Wanyama questioned how the government intends to recover the massive investment in the project, warning that the securitization approach could impose a heavy burden on taxpayers.
He pressed the Treasury to explain how ordinary Kenyans would benefit from the multibillion-shilling facility.
Committee member Stephen Mutinda Mule raised accountability concerns, demanding assurances that robust financial management systems were in place to safeguard public funds drawn from the Sports Fund.
In his response, PS Mwangi revealed that the government had already secured approvals from the National Treasury, the Office of the Attorney General, and the Capital Markets Authority to raise over Ksh 42 billion through securitization of the Fund’s cash flows.
He explained that the financing model would spread repayment over 15 years at an interest rate of 7.93 percent, with proceeds directed towards completing the Talanta Sports City in time for Kenya’s hosting of the 2027 AFCON.
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However, the Committee expressed concern over the reallocation of more than Ksh 2.9 billion from the SASDF to user agencies that had not submitted funding requests as required by law.
The MPs resolved to demand a detailed cost-benefit analysis from the National Treasury, as well as quarterly accountability reports from the SASDF Oversight Board, before approving further disbursements for the project.
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