Nairobi to Raise Capital Through Green Bonds for Projects

Nairobi County plans to raise capital through a Green Bond to be used to build a mass transit system and expand infrastructure in the county.

This move comes as counties seek innovative ways to diversify their own source revenues to meet development projects goals, speaking during the launch of the enhanced NSE marketplace yesterday, Governor Johnson Sakaja said he will reveal the exact amount later.

Sakaja argues that Nairobi water and sewerage company alone will need a capital investment of about Sh30 billion to be able to offer services and develop a proper water and waste management system that will serve the people of Nairobi.

Part of the Green Bond will also be used in sorting out the garbage challenge in Nairobi by converting waste to energy. The intention, he said, is to deal with waste collection as well as creating employment.

“We look forward to partnering with the Ministry of Investments, Trade and Industry and associated state corporations and agencies to conceptualise and explore county financing options through the NSE to facilitate the mobilisation of low-cost and long- term private capital to finance, or refinance the County’s projects,” said Sakaja.