Small investors take on wealthy firms in fight to lend to State

The Central Bank of Kenya in Nairobi.

The Central Bank of Kenya in Nairobi. PHOTO | FILE | NMG

Photo credit: File | Nation Media Group

The share of the government’s domestic debt stock held by retail investors has nearly doubled to 12.42 percent from 6.96 percent in March last year, reducing that by banks, insurance companies, and pension funds.

Data by the Central Bank of Kenya (CBK) shows that individual investors have now overtaken insurance companies in the share of the government’s domestic debt held, making them the third largest buyers of government papers after banks and pension funds.

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