Kenya pension funds increase investment in long-term govt bonds
The Kenya Pension Fund Investment Consortium, whose members control about $2.63 billion in assets under management, says it has identified 17 infrastructure projects in the water, energy, affordable housing and roads sectors that are viable for investment. PHOTO | PSCU
Kenya pension funds recorded the biggest growth in lending to government in 2021, helped by the National Treasury’s consistent issuance of long-term bonds, which favour their investment preferences.
Central Bank of Kenya (CBK) data shows that pension funds grew their holdings of government debt by $1.8 billion to $11.05 billion between January 1 and December 17, ahead of banks, whose holdings went up by $1.55 billion to $17.9 billion.
