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Sh460bn bond bids show weak private investments
Infrastructure bonds provide an attractive option for the passive investor due to their tax exemption on interest, leading to large subscriptions whenever they are offered by the government.
Investors splashed a record Sh460.4 billion for the purchase of three infrastructure bond (IFB) bonds, underlining the abundance of cash in an economy that is seeking passive investments over setting up businesses.
In the August bond, the Central Bank of Kenya (CBK) targeted Sh150 billion from three reopened IFBs and received three times the securities on offer.
