Laikipia County Infrastructure Bond: Laikipia County is planning to float a Sh. 1.4 billion infrastructure bond to fund capital-intensive development projects in the County such as smart towns and irrigation, including reticulation. The bond will be a first for the devolved units seeking funds through the capital markets. This plan has been backed by the National Treasury.
Under the Public Finance Management (PFM) Act, the National Treasury guarantees borrowing by counties. Cabinet Secretary Ukur Yatani, who gave the nod to the bid to seek financing through alternative means, said counties are allowed to borrow as long as they meet the parameters set by the PFM Act. The county has also received its first credit rating report which has indicated a stable outlook for the county.
Akothee tells how she’s been saving Sh. 2 million on bills every month
Additionally, the County is also seeking to use leasing as a means of financing the acquisition of medical equipment. “We know the benefit of ensuring our audited accounts are available for scrutiny by third parties as well as the public. Because we need to utilize capital markets to attract financing for development projects,” Laikipia Governor Ndiritu Muriithi said.
Laikipia’s most recently audited books for the financial year 2019-20 show its revenue was Sh. 7.113 billion, meaning 20 per cent would be Sh. 1.4 billion. Laikipia has been releasing quarterly and annual financial results. In 2018, it became the first county to produce a statistical data abstract, providing key information on all sectors of the economy, crucial information for investors. Laikipia County Infrastructure Bond.
