National Treasury CS Ukur Yatani during a briefing with Council of Governors on the county revenue allocation formula. Consequently, with the country having tapped over Sh600 billion worth of Eurobond loans since 2014, debt service costs have spiralled. Unfortunately, by opting for the Eurobond, Kenya has driven itself into a debt trap it cannot easily extricate itself. Kenya might, however, find a friendlier Eurobond market, according to Genghis Capital’s Ogutu. “There’s a huge appetite for higher yields that a frontier market like Kenya will offer to the international market,” he said.

Source: Standard Digital March 15, 2021 18:06 UTC