NAIROBI - The construction of Kenya's new flagship sports facility, the Talanta Sports City Stadium, is progressing ahead of the 2027 Africa Cup of Nations (AFCON), but its KSh 44.7 billion ($344.5 million) cost has ignited a national conversation about public debt and project financing. While the government champions the 60,000-seater stadium as a landmark achievement, critical questions are being raised about its ultimate financial burden on Kenyan taxpayers.

Official figures presented to the National Assembly’s Committee on Sports and Culture in April 2025 by Defence Cabinet Secretary Soipan Tuya confirmed the construction budget at KSh 44.7 billion. The project, located at Jamhuri Park along Ngong Road in Nairobi, is a critical component of the infrastructure required for Kenya to co-host the continental tournament with Uganda and Tanzania. Construction, which began in March 2024, is being undertaken by the China Road and Bridge Corporation (CRBC) with supervision from the Kenya Defence Forces (KDF) and is slated for completion by February 2026. As of mid-November 2025, Sports Cabinet Secretary Salim Mvurya stated the project was 66% complete.

An Innovative but Controversial Funding Model

To finance the stadium, the Kenyan government has employed an unconventional financial instrument: a KSh 44.79 billion Infrastructure Asset-Backed Security (IABS) listed on the Nairobi Securities Exchange (NSE). This bond, issued by a private entity named Linzi FinCo 003 Trust, is backed by future revenues from the Sports, Arts and Social Development Fund. President William Ruto hailed the July 2025 listing as a “historic milestone” that demonstrates how Kenya can sustainably fund large-scale projects through its capital markets, reducing dependency on external borrowing.

However, this financing model has drawn sharp criticism. Kiharu Member of Parliament, Ndindi Nyoro, has repeatedly warned that the true cost of the stadium could escalate to between KSh 100 billion and KSh 145 billion over the 15-year life of the bond. Nyoro claims the repayment structure obligates the state to pay approximately KSh 500 million per month, leading to interest payments that could more than double the principal amount. He has described the arrangement as an “off-the-books” borrowing mechanism that masks the true extent of public debt.

How Talanta's Cost Compares Globally

The KSh 44.7 billion ($344.5 million) price tag places Talanta Stadium among the more expensive modern sporting venues in Africa, though significantly less costly than elite stadiums in Europe and North America.

• Abdoulaye Wade Stadium, Senegal: The 50,000-seater stadium, opened in February 2022 near Dakar, was built by a Turkish firm for approximately €238 million ($270 million).
• Alassane Ouattara Stadium, Ivory Coast: This 60,000-seat venue, which hosted the 2023 AFCON final in Abidjan, was completed in 2020 at a reported cost of $257 million, with significant financing from China.
• Japoma Stadium, Cameroon: A 50,000-capacity multi-purpose stadium in Douala, inaugurated in 2020, cost around $232 million, largely financed by a Turkish bank.

These comparisons highlight the diverse financing models and cost structures for major infrastructure projects across the continent. While Kenya's approach leverages private capital markets, the long-term interest burden remains a central point of contention. In contrast, top-tier global venues like London's Wembley Stadium ($2.4 billion, adjusted for inflation) or SoFi Stadium in the US ($4.2 billion) operate in a completely different financial league.

As construction continues, the debate over the Talanta Sports City Stadium encapsulates a broader challenge for Kenya: balancing the ambition of hosting prestigious international events and developing world-class infrastructure against the pressing need for fiscal prudence and transparent public financing. The stadium is not merely a venue for sport; it is a test case for Kenya's public finance innovation and its long-term economic implications for generations to come.