The Central Bank of Kenya (CBK) has reopened two Treasury bonds, FXD1/2018/015 and FXD1/2021/020, in an effort to bolster the government’s fiscal resources.
The first bond, FXD1/2018/015, carries a tenure of 15 years and offers an attractive yield of 12.6500%, while the second, FXD1/2021/020, spans a longer 20-year term with a competitive yield of 13.4440%. Through this initiative, the CBK aims to mobilize a substantial sum of KES 50B, which is earmarked specifically for budgetary support to address fiscal requirements.
The maturity dates for these bonds are set for the 9th of May 2033 and the 22nd of July 2041, respectively, providing investors with long-term investment opportunities. The period of sale for the bonds is from the 26th of September 2025 to 15th of October 2025 with auction set for 15th October 2025.
FY 25/26 Issuance at KES 250B
In the 2025/2026 fiscal year, Kenya has offered bonds worth KES 250B to the market, which has attracted significant interest from investors who have collectively submitted bids totaling an impressive KES 713.1B. Of these bids, the government has accepted KES 405.2B, representing 56.8% of the total received bids, while rejecting KES 307.8B or 43.2% of the received bids.
The current auction in which the government is aiming to raise KES 50B brings the total amount offered in the current fiscal year to an aggregate of KES 300B.
Bonds and Bills to Raise KES 635B Domestically
According to the government’s annual borrowing plan for FY 2025/2026, domestic financing for the fiscal year to be realized from treasury bills and treasury bonds has been set at KES 634.8B, with the net domestic financing requirement set at KES 613.5B.
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