The Auditor-General, Nancy Gathungu, has flagged the National Treasury over the alleged diversion of Ksh 30 billion from Eurobond proceeds to cover domestic Treasury Bond shortfalls, a move she says breached the terms of the sovereign bond agreement and raised concerns over fiscal accountability. “The utilisation of the sovereign bond proceeds to cover the Treasury
The Government of Kenya has announced the successful pricing of a new dual-tranche Eurobond issuance totaling USD 2.25 billion. In a statement, Treasury CS John Mbadi said the issuance comprises: USD 900 million 7.875 per cent, notes due in 2034 (the “2034 Notes”), amortising in three equal instalments in 2032, 2033, and 2034, resulting in
National Treasury Cabinet Secretary (CS) John Mbadi has dismissed claims that Kenya is borrowing to repay existing debt, insisting that recent Eurobond plans are part of a broader strategy to manage the country’s maturing obligations and ease economic strain. Speaking during a press briefing, Mbadi said the government’s move to issue another Eurobond was a
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