- Kenya plans to issue its first diaspora-targeted bond in 2025 to diversify foreign funding sources.
- The bond aims to leverage $4.9 billion in annual remittances to mitigate foreign currency risks.
Nairobi, Kenya – Kenya is banking on its growing diaspora as a new source of investment, unveiling plans to issue its first local currency-denominated bond targeting overseas citizens. The move, part of the draft medium-term debt management strategy for 2025, aims to reduce foreign currency exposure while tapping into a vital source of foreign exchange. Diaspora remittances surged to $4.9 billion in 2024, outpacing key exports like coffee, tea, and horticulture.
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