Why securitisation of construction projects is a road worth taking

An earthmover is on standby at a construction site at the Changamwe roundabout on July 28, 2021. 

Photo credit: Wachira Mwangi | Nation Media Group

When Kenya’s President William Ruto announced a shift towards innovative funding of infrastructure — specifically securitising road projects — the policy sparked criticisms.

Critics accused the government of mortgaging the nation’s future, raising debt behind closed doors, and prioritising asphalt over social welfare. But this cynical lens misses the broader symbolism of the move: a deliberate act of national revival.

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