Silent Majority

[zapp_brannigan]

At least 800 stalled roads are coming back to life with the finalization of the securitization of the RMLF.

What is this ? The other day Kagombe who I understand is well versed with numbers had a hard time explaining to the other guests on a TV show since the current road budget allocations are not adding up .
Is securitization something outside the budget ?

 

[Denis Young]

What is this ? The other day Kagombe who I understand is well versed with numbers had a hard time explaining how the road allocations for this budget are not adding up .
Is securitization something outside the budget ?

The securitization creates a special purpose vehicle. It guarantees future collections from the levy as payment which means the debt is off balance sheet.

But the funds are not for any other purpose but for paying road pending bills some of which are two decades old.

Do you have a link to the video where Kagombe was speaking on this?

 

[zapp_brannigan]

The securitization creates a special purpose vehicle. It guarantees future collections from the levy as payment which means the debt is off balance sheet.

But the funds are not for any other purpose but for paying road pending bills some of which are two decades old.

Do you have a link to the video where Kagombe was speaking on this?

It was on 15th June ,Inooro TV - Kiririmbi .It was Him , Ngogoyo,Wamuchoba and I don't remember the fourth .
I wonder why they are not doing the same with housing levy now that we have learnt the govt was using the funds to build markets etc . If they can make it work it will be a plus for them .Right now a move in the right direction is welcome .
I wonder why Ndindi is against securitization.

 

[Denis Young]

It was on 15th June ,Inooro TV - Kiririmbi .It was Him , Ngogoyo,Wamuchoba and I don't remember the fourth .
I wonder why they are not doing the same with housing levy now that we have learnt the govt was using the funds to build markets etc . If they can make it work it will be a plus for them .Right now a move in the right direction is welcome .
I wonder why Ndindi is against securitization.

They are actually going to do that with the housing levy. They plan on issuing a Sukuk bond backed by securitization of the HL. Somewhere in the region of 120B will be generated to rehabilitate the three main slums. Kibera, Mathare and kwa Njenga.

Btw the AH act allows for building of supporting infrastructure like markets. Like the recently allocated New Mukuru houses, they are establishing a market, I think a level 5 hospital and school for the population. It is about creating sustainable communities.

 

[zapp_brannigan]

They are actually going to do that with the housing levy. They plan on issuing a Sukuk bond backed by securitization of the HL. Somewhere in the region of 120B will be generated to rehabilitate the three main slums. Kibera, Mathare and kwa Njenga.

Btw the AH act allows for building of supporting infrastructure like markets. Like the recently allocated New Mukuru houses, they are establishing a market, I think a level 5 hospital and school for the population. It is about creating sustainable communities.

Supporting infrastructure - yes, but the govt was targeting around 400 markets I am not sure that matches the number of housing projects.
Those on payslips are suffering on projects that most probably will never help them directly.
Right now a move in the right direction is welcome.