​In 2014, Kenya issued her first Eurobond of $2.75b. Fast-forward to 2018, the government, in what the president has termed as an overbidding, has raised a $2 billion Eurobond debt at the London Stock Exchange. The 10-year Eurobond issued in 2014 had a yield of 6.875 percent. After the recently issued Eurobond, for every one hundred shillings, Sh54 will go to debt financing. It’s simply borrowing from Peter to pay Paul, which is a very expensive affair.

Source: Standard Digital February 26, 2018 11:15 UTC