Treasury Settles KSh 29.7Bn Tax-Free 2022 IFB, FY25/26 First-Half Redemptions Reach KSh 139.6Bn
The treasury settled the tax-free IFB1/2022/006 today, paying KSh 29.7B in interest and principal. This pushes FY25/26 maturities to KSh 139.6B so far, driven by the large August redemption of FXD1/2023/002 and September’s IFB1/2013/12 payout. Another KSh 25.2B falls due on 8 December across three FXD2/2010/15 tranches.
Food Inflation is Still Kenya’s Biggest Pressure Point
Kenya’s inflation eased slightly to 4.5% in November 2025, but food prices remained the biggest pressure point. While overall CPI rose just 0.2% month-on-month, key staples recorded notable increases: onions up 4.9%, kale up 2.7%, and beef up 1.5%. Food inflation stood at 7.7% year-on-year, contributing more than half of total inflation. Electricity costs declined and fuel prices remained unchanged, helping stabilize overall inflation, but the data shows household budgets continue to feel the most strain from everyday food items.
State House, Security, Social Programs, Lead In Spending Spree On Wages
High early spending by these entities points to the likelihood of additional funding next year to support its obligations, defeating the government's promise for austerityKenya Retires KSh 20Bn at Deep Discount in Overbid Buyback of May 2026 Bond
Kenya retired KSh 20.08Bn of the FXD1/2023/003 bond after KSh 34.30Bn in bids, clearing at a 7.8019% yield.IMF Urges Caution on Kenya’s US$3.5bn Currency Swap Strategy
The International Monetary Fund (IMF) has cautioned Kenya to weigh potential exchange-rate risks following its decision to convert US$3.5 billion of loans from China into yuanKenya Pays KSh 93 Bn in Road Arrears Ahead of Planned Bond
The Kenyan government has cleared KShs 93 billion in verified road-sector pending bills using part of a KShs 104 billion syndicated bank loan.Treasury Bondholders to Receive Coupon Payments This Week
Government bondholders are receiving scheduled coupon payments this week. The list includes tax-exempt infrastructure bonds and taxable fixed-rate issues. IFBs are exempt from withholding tax, while fixed-rate bonds are taxed based on tenor: 15% for bonds under 10 years and 10% for those 10 years and above. The cash flows provide income to pension funds, insurers, and retail investors and help support secondary market liquidity. More coupon cycles are scheduled later in November.
Treasury Raises KSh 52.8 Billion in November Treasury Bond Reopening
Treasury has extended its front-loaded domestic borrowing strategy after raising KSh 52.83 billion in the November reopening of two Treasury bonds.Kenya’s Motorcycle Market Rebounds to Pre-Pandemic Levels
August 2025 marked a clear turning point in Kenya’s motorcycle market as registrations reached 15,699 units, the highest monthly level since June 2022.Kenya’s Public Debt Crosses KSh 12 Trillion for the First Time
Kenya’s public debt reached KSh 12.06T in September 2025 (67.3% of GDP), crossing the KSh 12T mark. The shift in financing was driven by domestic borrowing, which rose KSh 1.06T YoY as external debt increased only slightly. FX risk declined, and credit ratings improved, though external debt service remains elevated.Tomatoes, Oranges and Power Bills Push Up Cost of Living in October
The cost of living in Kenya edged up slightly in October as prices of key household items and electricity rose, even though staple foods like maize flour became cheaper.Investor Demand Tested as Treasury Returns to Market for KSh 40Bn
Kenya’s domestic debt program remains ahead of schedule as the Treasury reopens two long-term bonds, FXD1/2012/020 and FXD1/2022/015, to raise KSh 40 billion. For real time market updates and analysis, [...]
