Bleak 2019 for taxpayers as Kenya begins repaying loans
Going by the yields on the second Eurobond of $2 billion issued in February 2018, things do not look any better for the government this time, which is in dire need of resources to implement President Uhuru Kenyatta’s Big Four Agenda projects covering universal healthcare, affordable housing, food security and manufacturing. GRAPHIC | BUSINESS DAILY
As Kenya prepares to issue a new Eurobond this year, foreign investors have slapped a risk premium on the country’s international borrowing, making the planned debt more expensive to taxpayers.
This has not come as good news, especially at a time when activity on the Nairobi Securities Exchange has slumped, mostly because of foreign investors.
