Parliament questions govt’s plan to securitise Sports Fund for Talanta Sports City
By Joel Masibo, October 1, 2025The National Assembly’s Committee on Sports and Culture has raised concerns over the government’s decision to securitise the Sports, Arts and Social Development Fund (SASDF) in its quest to raise more than Kshs44 billion for the construction of Talanta Sports City.
The project is one of the flagship venues for the 2027 Africa Cup of Nations (AFCON).
On Tuesday, September 30, 2025, committee members, chaired by Webuye West Member of Parliament Dan Wanyama, warned that the financing model would ultimately burden taxpayers who would shoulder the cost of repaying the securitised loan over 15 years.
During the meeting at Bunge Tower, the Committee met with Sports Principal Secretary Elijah Mwangi and National Treasury’s Director General for Public Investment and Portfolio Management, Lawrence Bet, to deliberate on the proposed securitisation and on the reallocation of SASDF resources to semi-autonomous government agencies (SAGAs).
Earlier, the former Sports Cabinet Secretary Ababu Namwamba said that Talanta Sports City Stadium would match the best in the world.
Bet, appearing on behalf of Treasury Principal Secretary Chris Kiptoo, told the lawmakers that the securitisation plan had already received approvals from the Treasury, the Attorney General, and capital markets regulators.
He revealed that the bond was listed at the Nairobi Securities Exchange in July 2025.
“The financing model will spread repayment over 15 years at an interest rate of 7.93 per cent, with proceeds directed towards completing Talanta Sports City in time for AFCON 2027,” Bet said.
Longterm impact
However, the legislators questioned the long-term impact on taxpayers, with Matungulu Member of Parliament Stephen Mule arguing that by the end of the repayment period, Kenyans would have paid more than Kshs97 billion, more than double the principal amount.
“This is a colossal amount of money to extract from already overtaxed citizens,” Mule noted, before he also questioned how the government planned to service the debt while restricting betting, a key contributor to the Sports Fund.
Other MPs raised transparency and accountability issues with Hon. Charles Nguna (Mwingi West), saying the securitisation plan was undertaken without public participation, as required by law.
“Kenyans were kept in the dark. There was no advertisement or public consultation on the financing model,” he said.
Kabete Member of Parliament and Committee Vice-Chair James Wamacukuru criticised the Treasury for failing to provide supportive documents.
“The submissions have been shallow with no evidence to justify the securitisation plan,” said Wamacukuru, pressing the Treasury to explain how ordinary Kenyans would benefit from the project.
The Committee also expressed concern that Treasury had delayed disbursing funds to SAGAs despite Parliament appropriating resources to them.
“We are not happy that SAGAs remain in financial distress because Treasury is dragging its feet. This has hindered service delivery,” said Dan Wanyama, directing Treasury to release the funds immediately.