Global credit ratings agency Standard and Poor’s (S&P) has exuded confidence that Kenya’s plans to tap into Islamic financing to raise money to repay the Eurobond maturing in June this year could be successful.
Islamic finance experts at the New York-based agency said in an analysis that Kenya may this year succeed in issuing its first Sukuk bond, as it faces pressure in repaying the Sh321 billion ($2 billion) Eurobond, nearly seven years after the first attempt in 2017 which did not materialise.
