Kenyan MP Warns of Hidden KSh 145 Billion Cost Behind Talanta Stadium Project

Kiharu Member of Parliament Ndindi Nyoro has raised concerns over what he terms massive 'off-the-books' government borrowing, specifically highlighting the financing for the upcoming Talanta Stadium on Ngong Road.

Ndindi Nyoro, who has gained a reputation for scrutinising government expenditure, made the sensational claim that the stadium project will ultimately cost Kenyan taxpayers a staggering KSh 145 billion.

The initial payment cost was approximately Ksh 44.7 billion, a figure that corresponds to the Infrastructure Asset-Backed Security (IABS) bond listed on the Nairobi Securities Exchange to raise funds for the stadium's construction.

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The lawmaker argued that Kenya's actual debt situation is far more critical than official reports indicate, asserting that the true debt-to-GDP ratio exceeds 70 per cent.

He attributed this discrepancy to the government's practice of securing funds outside of standard accounting records.

"The economy of Kenya is projected to be around KSh 16.9 trillion. The debt in Kenya is around 12.5 trillion. So when we talk about the debt-to-GDP ratio, we must never massage the denominator. It is over 70 per cent debt-to-GDP ratio," Ndindi Nyoro revealed during the 42nd Annual Seminar of the Institute of Certified Public Accountants of Kenya (ICPAK) in Mombasa.

According to Ndindi Nyoro, the KSh 45 billion allocated for the construction of the 60,000-seat Talanta stadium is one such project funded through borrowing not reflected in official Treasury debt records.

He claimed that the loan for the stadium is set to be serviced through the Sports Fund, with a repayment plan requiring the government to remit KSh 500 million every month for 15 years.

“At the end of 15 years, from a debt of KSh 45 billion, Kenya will pay interest of KSh 100 billion. So the total cost of the Talanta Stadium will be KSh 145 billion,” he explained.

Ndindi Nyoro further alleged that beyond the official public debt of KSh 12.5 trillion, the government is accumulating hidden liabilities through mechanisms like securitisations and bank-backed advances linked to fuel levy collections.

While clarifying that he is not against government borrowing, Ndindi Nyoro emphasised the critical need for greater financial transparency.

Meanwhile, Sports Cabinet Secretary Salim Mvurya provided an update on the Talanta Stadium earlier this week, stating that the project is over 65 per cent complete.

The CS projected that external works would be finished by December, with the entire facility expected to be ready by February 2026.