MP Ndindi Nyoro has sensationally claimed that the construction of the Talanta Stadium will ultimately cost Kenyan taxpayers a staggering Ksh 145 billion. Speaking at the 42nd Annual Seminar Edition II of the Institute of Certified Public Accountants of Kenya (ICPAK) in Mombasa, Nyoro warned that the country’s debt situation is far worse than official reports indicate.
“The economy of Kenya is projected to be around Ksh 16.9 trillion. The debt in Kenya is around Ksh 12.5 trillion. When we talk about the debt-to-GDP ratio, we must never massage the denominator. It is over 70 per cent,” Nyoro said, emphasizing the impact of “off-the-books” government borrowing.
Nyoro revealed that the Talanta Stadium project, with a 60,000-seat capacity, was funded through official Treasury debt amounting to Ksh 45 billion. However, servicing this debt through the Sports Fund will require the State to remit Ksh 500 million every month for 15 years. According to Nyoro, the interest alone will total Ksh 100 billion, bringing the overall cost of the stadium to Ksh 145 billion.
Beyond official debts, Nyoro claimed the government is accumulating hidden obligations through mechanisms like securitisations and bank-backed advances tied to fuel levies. He stressed that while borrowing is necessary for development, transparency is critical.
Sports Cabinet Secretary Salim Mvurya, however, stated that the stadium is over 65 per cent complete. He added that external works are expected to finish by December 2025, with the facility slated for completion in February 2026.
Nyoro’s revelations come amid growing public concern over Kenya’s financial management and rising debt levels. His claims highlight the potential long-term cost implications of major infrastructure projects funded through borrowed funds, urging a closer look at both official and hidden government liabilities.
