How dollar bond will release idle billions

With more Kenyans stockpiling dollars in banks following the increasing demand for the greenback, the government now wants to give them an incentive to release the money into the economy.

This follows Tuesday’s announcement by President William Ruto that his government will issue a local bond denominated in dollars as he looks for alternatives to fund the budget. This comes at a time Kenya has shifted focus to borrowing locally due to the expensive foreign debt.