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Kenya’s Bond Market Rejects Government’s Tap Sale Amid Rising Borrowing Appetite

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© Allen Dreyfus
  • CBK’s tap sale raises only 2.4% of targeted Ksh20 billion
  • Investors anticipate higher borrowing rates, await new fiscal year

 

Nairobi, Kenya – Kenya’s government faced a significant setback as its attempt to raise an additional Ksh20 billion ($155.9 million) through a tap sale in June met with widespread investor rejection. This comes amidst growing concerns over the government’s increasing domestic borrowing appetite and its crack down on anti-government protestors.

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