{"id":93143,"date":"2025-08-19T00:56:09","date_gmt":"2025-08-19T00:56:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/93143\/"},"modified":"2025-08-19T00:56:09","modified_gmt":"2025-08-19T00:56:09","slug":"kenya-seeks-up-to-500m-from-citizens-abroad-in-new-bond-push","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/93143\/","title":{"rendered":"Kenya seeks up to $500m from citizens abroad in new bond push"},"content":{"rendered":"

Kenya, seeking to ease strained public finances, is turning to its citizens abroad with plans to issue a diaspora bond worth between $250 million and $500 million.<\/p>\n

\n Kenya, seeking to ease strained public finances, is turning to its citizens abroad with plans to issue a diaspora bond worth between $250 million and $500 million.\n <\/p>\n

\n The government hopes to raise as much as $3.8 billion through the program, according to Prime Cabinet Secretary Musalia Mudavadi.\n <\/p>\n

\n The East African nation is in discussions with a World Bank unit on how to structure the security, which could fund projects ranging from rural electrification to roads, rail, and airports, Bloomberg<\/a> reported.\n <\/p>\n

\n Kenya is also preparing to host an International Monetary Fund mission next month to discuss a new lending program. The country has faced fiscal pressure since being forced to abandon planned tax increases after deadly protests in 2024 that left at least 60 people dead.\n <\/p>\n

\n The economic impact was severe, with the Nairobi Securities Exchange PLC (NSE) reporting a loss of about $600 million<\/a> in investor wealth in two weeks due to the protests.\n <\/p>\n

Privatisations, partnerships and reform push<\/p>\n

\n To stabilise its finances while keeping living costs in check, the government is pursuing privatisations, public-private partnerships, and asset securitisation to fund infrastructure.\n <\/p>\n

\n \u201cBecause of the backlash from citizens, we shifted our focus toward alternative financing rather than aggressive revenue-raising measures,\u201d Mudavadi said.\n <\/p>\n

\n \u201cWe are working to live within our means, recognising the global economic challenges.\u201d\n <\/p>\n

\n He added that Kenya has made progress toward being removed from the Financial Action Task Force\u2019s \u201cgrey list,\u201d though he did not specify when this might happen.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Kenya, seeking to ease strained public finances, is turning to its citizens abroad with plans to issue a…\n","protected":false},"author":2,"featured_media":93144,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-93143","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/93143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=93143"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/93143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/93144"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=93143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=93143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=93143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}