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Bond Market News
Kenya Plans to Raise Up to $500mn via Diaspora Bonds
August 19, 2025
Kenya is exploring the launch of a diaspora bond in the range of $250-500mn to help bolster its strained public finances. The move aims to tap into the resources of Kenyan citizens living abroad. According to Prime Cabinet Secretary Musalia Mudavadi, the plan could eventually grow to $3.8bn over time and proceeds from the bond may be directed towards key infrastructure projects, including rural electrification, roads, railways, or airports. Amid challenges in tax collection and recent public backlash against tax hikes, Kenya is shifting focus to alternative funding sources. Annual inflation has reached a manageable level of 4.1% in July, from a peak of 9.6% in 2022. The government is working closely with a World Bank unit to structure the diaspora bond and is preparing for an upcoming IMF meeting next month to discuss a new lending program.
Kenya’s 7.25% 2028s are trading stable at par value.
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