CBK receives bids for its 10-year Treasury bond worth Ksh 30 billion

By David Indeje / July 7, 2017



kenyan-2015-2016-budget

The National Treasury will sell a 10-year Treasury bond ( FXD 1/2017/10)  worth Ksh 30 billion this month for budgetary support says Central Bank Kenya (CBK).

CBK said it will receive bids between July 7 and July 25, and auction it on July 26.

The bond’s coupon will be market determined.

The bond will be listed on the nairobi Securities Exchange. Secondary trading in multiples of KSh 50,000 will commence in August.


Kenyan National Treasury fiscal year 2017/18 national budget amounts to Kshs 2.3 tn, with a 72:28 split between recurrent and county allocation and development expenditure from a split of 67:33 in fiscal year 2016/2017 for recurrent and county allocation and development expenditure, respectively.

The budget will be funded by 77.1 percent in taxes amounting to Kshs 1.7 tn, 13.9 percent of domestic borrowing worth Kshs 317.7 bn, and the remaining 9.0 percent will be funded through foreign borrowing amounting to Kshs 206.0 bn.

“The funding structure has been changed from the last fiscal year where the budget was funded by, 70.2 percent in taxes amounting to Kshs 1.5 tn, 12.7percent of domestic borrowing worth Kshs 284.7 bn, and the remaining 17.1percent was funded through foreign borrowing amounting to Kshs 382.7 bn,” according to Cytonn Investment analysts.

Counties to receive Sh341 billion

In this financial year, the 47 Counties to receive total allocation of KSh341 billion after the County Allocation of Revenue Act 2017 was assented to law by the President on Thursday.

“In the 2017/2018 financial year, the 47 counties will share a total allocation of Sh341 million consisting of Sh302 billion of equitable share of national government revenue, Sh23 billion in conditional grants from the national government and a further Sh16.4 billion in conditional allocations from loans and grants from development partners.”

In the 2017/2018 financial year, the 47 counties will share a total allocation of Sh341 million consisting of Sh302 billion of equitable share of national government revenue, Sh23 billion in conditional grants from the national government and a further Sh16.4 billion in conditional allocations from loans and grants from development partners.



About David Indeje

David Indeje is a writer and editor, with interests on how technology is changing journalism, government, Health, and Gender Development stories are his passion. Follow on Twitter @David_Indeje David can be reached on: (020) 528 0222 / Email: [email protected]

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