Sakaja announces green bonds to expand Nairobi's waste management system
County government will float a green bond that will be used to build a mass
transit system and expand the infrastructure for waste management and water
Johnson Sakaja on Tuesday said part of
the green bond will also be used in sorting out the garbage issue in Nairobi by
converting waste to energy to deal with waste collection and create employment.
to offer the residents of Nairobi solutions that clears out the mess that has
been witnessed over the years. We intend to float a green bond, and what we
raise will be used to create order and also open up opportunities for our people
and also make Nairobi work for everyone," the Governor said.
boss made the announcement at the Nairobi Securities Exchange (NSE) during the bell-ringing ceremony to mark
the launch of the enhanced NSE Market Place.
are fixed-income instruments specifically created to raise money for climate
and environmental projects.
bonds are asset-linked and backed by the issuing entity’s balance sheet to carry
the same credit rating as their issuers’ other debt obligations.
the exact amount to be raised will be announced later.
further noted that the Kenya Kwanza Government has placed special focus on
domestic capital mobilization which is critical in supporting medium to long
term fiscal consolidation plans.
“The visit by
His Excellency the President to NSE highlights the Government efforts to
stimulate private investments in public assets and projects with a view to
strengthening the fiscal position of the country, reduce reliance on foreign
debt as well as boost economic recovery through capital markets," he added.
Sakaja, the Nairobi Water and Sewerage Company alone will need a capital investment
of about Ksh.30 billion to be able to offer services and develop a proper water
and waste management system that will serve the people of Nairobi.
forward to partnering with the Ministry of Investments, Trade and Industry and
associated state corporations and agencies to conceptualize and explore county
financing options through the NSE to facilitate the mobilization of low-cost
and long- term private capital to finance, or refinance the County’s projects,”
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