Defence Cabinet Secretary Hon Soipan Tuya and Principal Secretary Dr Patrick Mariru on Wednesday joined H.E President Dr William Ruto at the bell-ringing ceremony to kick-start the listing of Linzi FinCo 003 Trust on the Nairobi Securities Exchange (NSE).
The 15-year, Shs 44.7 billion Linzi FinCo 003 Trust is Kenya’s first infrastructure asset-backed listing whose proceeds will be used to underwrite the ongoing construction of the 60,000-sitter ultra-modern Talanta City Stadium overseen by the Ministry of Defence (MOD) through Kenya Defence Forces (KDF).
In addition to Talanta City Stadium, MOD is collaborating with Linzi FinCo which is the financing arm of Liaison Group in the implementation of the ambitious Kenya Defence Forces (KDF) institutional housing programme that seeks to deliver 60,000 houses.
Phase I of the housing programme which is currently underway in Roysambu, Kwambuzi, Lanet, Gilgil and Mariakani Barracks will deliver a 3,069 houses.
Phase II, whose groundbreaking took place last month, will deliver 10,095 houses in Embakasi, Kahawa and Lang’ata Barracks while negotiations for the third phase to cover 15,000 units are ongoing.
Present were National Treasury Cabinet Secretary Hon FCPA John Mbadi, Principal Secretary Dr Chris Kiptoo as well as Chairman and CEO of NSE Mr Kiprono Kittony and Mr Frank Mwiti respectively.
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