SmartDeFi_Hodler

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President @WilliamsRuto has taken another step in fulfillment of his pledge to democratise the financial sector & ensure financial inclusion by launching Kenya’s first-ever Shariah-compliant ‘Linzi Sukuk’ bond on the Nairobi Securities Exchange's Unquoted Securities Platform (USP). The KSh 3 billion bond will support the construction of 3,069 affordable housing units, aligning with the Kenya Kwanza manifesto, which pledged to leverage the pension industry to fund the affordable housing program. The bond features a KSh 3 billion Islamic security with a 15-year maturity, structured entirely with locally sourced funds through a Public-Private Partnership (PPP). Housing will be provided at an average cost of KSh 1.4 million, enabling homeownership with payments as low as KSh 7,700 monthly over 15 years.