Afronomics dataset · dollar borrowing
What African governments pay to borrow in dollars
The yield on each Eurobond, the dollar bonds governments sell to foreign investors, read from the government’s own published report and updated as each one publishes (Nigeria every business day, Kenya every week with the daily figures). The yield is what a buyer of the bond today would earn a year if they held it to the end; it is the market’s price for lending to that government in dollars.
Nigeria · Mon, 5 October 2026
Nigeria’s Eurobonds
15 bonds, as the Debt Management Office, Nigeria publishes them. Change in percentage points.
| Bond | Issued | Price | Yield | Day |
|---|---|---|---|---|
| 6.500% due Nov 20271.1 years left | US$1.5B | 100.217 | 6.291% | +0.01 |
| 6.125% due Sept 20281.9 years left | US$1.25B | 98.993 | 6.676% | +0.03 |
| 8.375% due Mar 20292.4 years left | US$1.25B | 102.847 | 7.093% | +0.09 |
| 7.143% due Feb 20303.4 years left | US$1.2B | 99.284 | 7.382% | +0.06 |
| 8.747% due Jan 20314.3 years left | US$1.0B | 104.490 | 7.498% | +0.02 |
| 9.625% due Jun 20314.7 years left | US$700M | 107.722 | 7.624% | +0.04 |
| 7.875% due Feb 20325.4 years left | US$1.5B | 100.653 | 7.721% | +0.04 |
| 7.375% due Sept 20336.9 years left | US$1.5B | 96.849 | 7.972% | +0.05 |
| 10.375% due Dec 20348.2 years left | US$1.5B | 113.021 | 8.157% | +0.05 |
| 8.631% due Jan 20369.3 years left | US$1.25B | 102.440 | 8.246% | +0.06 |
| 7.696% due Feb 203811.4 years left | US$1.25B | 96.410 | 8.185% | +0.06 |
| 9.129% due Jan 204619.3 years left | US$1.10B | 103.944 | 8.701% | +0.05 |
| 7.625% due Nov 204721.1 years left | US$1.5B | 90.891 | 8.563% | +0.05 |
| 9.248% due Jan 204922.3 years left | US$750M | 105.709 | 8.663% | +0.03 |
| 8.250% due Sept 205124.9 years left | US$1.25B | 94.790 | 8.767% | +0.04 |
Source: Debt Management Office, Nigeria (all reports). Closing prices and yields as the DMO publishes them each business day (its stated source: Bloomberg). Price per US$100 of face value.
Kenya · Thu, 1 October 2026
Kenya’s Eurobonds
8 bonds, as the Central Bank of Kenya publishes them. Change in percentage points.
| Bond | Yield | Day | 4 weeks |
|---|---|---|---|
| 2028 bond1.7 years left | 7.626% | +0.34 | +1.23 |
| 2031 bond4.7 years left | 8.309% | +0.32 | +1.08 |
| 2032 bond5.7 years left | 8.752% | +0.34 | +1.32 |
| 2034 bond7.7 years left | 9.202% | +0.33 | +1.18 |
| 2036 bond9.7 years left | 9.672% | +0.29 | +1.01 |
| 2038 bond11.7 years left | 9.952% | +0.25 | +1.03 |
| 2039 bond12.7 years left | 9.924% | +0.20 | +0.94 |
| 2048 bond21.7 years left | 9.799% | +0.26 | +0.80 |
Source: Central Bank of Kenya (all reports). Daily yields from Table 6 of the CBK Weekly Bulletin (its stated sources: the Nairobi Securities Exchange and Thomson Reuters), by year of maturity.
Price and yield move opposite ways
A bond pays a fixed coupon. When its price falls below 100, a buyer gets that coupon for less, so the yield rises above the coupon; when the price is above 100, the yield is below it.
A rising yield means dearer borrowing
If yields rise, a new Eurobond would have to pay more. Banks and companies that borrow in dollars in the same country are often priced off the government’s yield.
Longer bonds usually pay more
The curve above plots each bond’s yield against the years it has left. Lenders usually ask more to lend for longer; where the line bends down, they do not.
Yields and prices are as each government publishes them; Afronomics computes only the years to maturity (to the middle of the maturity month) and the changes. Information, not advice. See also what governments pay to borrow at home and central-bank policy rates.
Quick answers
Questions people ask
- What are Nigeria's Eurobond yields today?
- On 5 Oct 2026, the Debt Management Office, Nigeria put Nigeria's 15 Eurobonds at 6.29% to 8.77%: 6.291% on the 6.500% due Nov 2027 and 8.767% on the 8.250% due Sept 2051.
- What are Kenya's Eurobond yields today?
- On 1 Oct 2026, the Central Bank of Kenya put Kenya's 8 Eurobonds at 7.63% to 9.95%: 7.626% on the 2028 bond and 9.799% on the 2048 bond.
- What is a Eurobond?
- A bond a government sells to foreign investors in a foreign currency, usually US dollars. The government pays a fixed coupon and repays the dollars at the end.
- Why does a Eurobond yield matter?
- It is what lenders charge that government for dollars today. A higher yield means a new Eurobond would cost the government more, and banks and companies borrowing dollars in the same country are often priced off it.
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