Kenya to Buyback KSh 64.5Bn Eurobond Ahead of Fresh Dollar Bond Issue
Kenya has launched a US$500M (KSh 64.5B) Eurobond tender targeting its 7.25% notes due 2028 and 8.00% amortizing notes due 2032, offering premium prices as part of a liability management exercise linked to a planned new US dollar bond issue. The offer seeks up to US$150M (KSh 19.4B) of 2028 bonds and US$350M (KSh 45.2B) of 2032 notes at 103.50% and 105.50% of face value respectively, plus accrued interest. Acceptance depends on successful refinancing, with tendering investors receiving priority in allocations of the new issue.
How Kenya’s Public Debt is Squeezing Money Out of Health, Schools, and Social Safety Nets
Transforming public debt from an obstacle into an enabler of socio-economic progress requires the collective effort of all actors within the public finance ecosystem
State House, DP Overspend While Development Spending Craters
State House and the Office of the Deputy President overspent their budgets by hundreds of millions of shillings even as Kenya diverted nearly eight out of every ten tax shillings to debt repayment
Kenya's Seven Months Tax Revenues Up 7.4% to KSh 1.34 Trillion
Kenya’s tax revenues rose 7.4% year on year to KSh 1.34 trillion by January 2026, equal to 51% of the FY25/26 Treasury target and below historical seasonal norms. January collections increased 3.0% year on year to KSh 183.1 billion but fell 27.2% from December due to post-holiday seasonality. The shortfall has been offset by heavier domestic borrowing, which reached KSh 732.6 billion by end-January, while external financing remained constrained.Kenya Remittances Fall in January After 2025 Highs
Kenya’s diaspora remittances eased at the start of 2026, falling 3.8 percent year on year to KSh 53.1 billion (US$ 411.3 million) in January and declining 5.5 percent from December after a strong fourth quarter. Despite the dip, inflows over the last 12 months rose 1.2 percent to KSh 648.0 billion (US$ 5.02 billion). In 2025, remittances hit a record KSh 649.7 billion and covered about 40 percent of the country’s goods trade deficit, underscoring their role as a key source of foreign exchange and external stability.Equity, KCB, NCBA Cut Lending Rates to 8.75% After CBK Move
Auditor-General Warns New Turkana Oil Deal Could Diminish Government Revenue
The Auditor-General has warned Parliament that the proposed changes to the fiscal terms governing oil Blocks T6 and T7 in Turkana could substantially reduce the government’s share of future petroleum revenues.February Bond Reopening Draws KSh 213bn in Bids as Govt Leans on Domestic Funding
Cabinet Backs KSh 4.7 Trillion Budget, Triggers Sweeping Reforms after Payroll Scandal
Afreximbank Commits US$ 8bn to its Newest Member South Africa
South Africa has acceded to the Establishment Agreement of the Afreximbank, becoming the multilateral lender's 54th member state.
"We Should Not Take IMF Programs Wholesale" -Controller of Budget
Kenya’s renewed engagement with the International Monetary Fund (IMF) risks tipping fiscal consolidation into damaging austerity unless social spending and budget credibility are protectedMoody’s Upgrades Kenya After Eurobond Buybacks Cut Near-Term Default Risk
Moody’s upgraded Kenya’s sovereign rating to B3 from Caa1, citing lower near-term default risk after a sharp rebuild in foreign-exchange reserves, Eurobond buybacks, and improved access to domestic and external funding. FX reserves rose to KSh 1.57 trillion, easing balance-of-payments pressure. The move followed Fitch’s B- affirmation last week, which also flagged stronger liquidity but warned high debt service, fiscal slippage, and weak debt affordability continue to cap Kenya’s credit profile.
