Nairobi, Sept. 2 -- Laikipia County projects its inaugural Sh1.16 billion infrastructure bond will offer investors a return of between eight and 12 percent when it's floated in market subject to approval by Treasury secretary Ukur Yatani.
The county will present the proposal to raise cash from capital markets to Mr Yatani before end of the week following last week's approval by county assembly, Governor Ndiritu Muriithi said on Tuesday.
Laikipia has inched closer to becoming the first county to issue an infrastructure bond since the advent of devolution eight years ago under Article 212 of the Constitution and Section 58 of the Public Finance Management (PFM) Act 2012.
"Inside a month we expect to go to the market because the Treasury is...