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Kenya’s capital market heightens as Ruto flip-flops on fresh borrowing plan

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President William Ruto’s mixed sentiment on Kenya’s fresh borrowing plan, after scrapping the Finance Bill 2024, exposes the country to the risk of steep capital-market costs in the coming months.

, the government has issued varying borrowing targets ranging from KSh597bn to KSh1trn before finally settling on KSh766.7bn on Friday, 5 July.

The final borrowing figure comprises KSh169.7bn, which is part of the KSh346.7bn revenue gap that the bill sought to raise, and the KSh597bn that the country initially intended to borrow from this month to finance theEthiopia: East Africa Metals sees gold mine construction starting in coming weeks Better security of tenure would trigger more exploration of Ethiopia’s mineral resources, with Ethiopian Minerals Corporation saying mining can become...Zuri Health start-up is partnering with telecom giants MTN, Safaricom, and Telecel Group to enable digital borrowing for medical expenses.Industry Minister Ryad Mezzour advocates for increased US engagement in Africa, emphasising Morocco’s strategic position in green energy supply chains...

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