Budget REACTIONS: There’s Need For Innovative Financing Tools
Capital markets remain uniquely positioned to finance our development agenda due to their provision of patient long-term capital that matches with the long-term nature of key flagship projects.
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NATIONAL BUDGET READING 2026
Josephine Ossiya: CEO at CMA
The budget for the financial year 2026/27 demonstrates the Government’s commitment towards tapping into innovative financing for the country’s development agenda.
Specifically, the minister did highlight a proposal to create additional fiscal space to finance government priorities while maintaining debt sustainability through among others, the expansion of alternative sources of financing, including Public-Private Partnerships, venture capital, innovative instruments, such as SUKUK and listing of commercially viable public enterprises on the stock exchange.
We welcome this proposal as we are cognizant of the fact that financing the country’s growth agenda will require non-traditional sources of financing. The Government has already taken concrete steps towards the issuance of the first sovereign sukuk, which will be crucial for the future pricing of other ethical instruments, such as corporate sukuk.
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