Skip to content
FX

A running file

The kenya-bonds file

Every Receipt on this subject, newest first. Next on the calendar: First repayment of IFB1/2024/8.5 (20% of principal, per the prospectus) and a coupon.

  • Public Money DeskReceipt

    Kenya's 18.46% tax-free bond: savers' best deal was taxpayers' dearest loan

    Our verdict · Opinion

    The best deal Kenyan savers have had from their government in more than a decade was bought with taxpayers' money at the worst moment to borrow, and they will be paying for it until 2032.

    In February 2024 Kenya sold KES 241 billion of an infrastructure bond at 18.46%, tax-free. To a saver that is worth 21.72% on a taxed bond. To the taxpayer it costs about KES 44.5 billion a year in interest until the first repayment in 2027, and about KES 302 billion over its life.