Kenya Treasury bonds · auction of 21 January 2026
Kenya bond auction, 21 January 2026: FXD1/2022/015 at 13.167%
The Central Bank of Kenya's bond auction dated 21 January 2026 was a switch auction of FXD1/2022/015.
Bids came to KES 26.5bn against KES 20.0bn on offer (132% subscribed), and the Treasury accepted KES 25.2bn.
FXD1/2022/015 cleared at 13.167%, against a 13.942% coupon, with 11.2 years to maturity. Its previous sale, on 10 November 2025, priced at 13.339%, so the yield is down 17 basis points.
What this means for KES 100,000 of FXD1/2022/015
Worked from the published result · information, not advice
KES 6,274 every six months, after tax, for 11.2 years
At this auction KES 100,000 of face value cost about KES 107,990 (price 107.990 per 100), and the yield that implies is 13.17% a year. The coupon is 13.94%: KES 13,942 a year on KES 100,000 of face value, paid in two halves, KES 12,548 after 10% withholding tax.
Held to maturity (2037-04-06), that is about KES 140,611 in coupons, plus KES -7,990 loss between what you paid and the KES 100,000 repaid; roughly KES 132,621 in all after tax.
Sold before maturity, the price moves with rates: if yields rise, the bond is worth less; if they fall, more. The Central Bank’s minimum bid is KES 50,000. Compare with bills, funds and deposits after tax →
Results
By bond
| Bond | Sale | Yield | Coupon | Years left | Bids | Accepted | Price /100 |
|---|---|---|---|---|---|---|---|
| FXD1/2022/015 | switch | 13.167% | 13.942% | 11.2 | KES 26.49bn | KES 25.17bn | 107.990 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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