Kenya PS Singoei urges 200bp cut to Africa borrowing premium, cites $75bn annual cost

On 28 August 2026 Kenya Foreign Affairs PS Korir Singoei told AfCoDD VI delegates that Africa pays about $75 billion annually in inflated risk premiums and proposed cutting the continent's borrowing premium by 200 basis points over three to four years, which he said could free roughly $20 billion for AU infrastructure.

Singoei's call highlights a policy push to reduce African sovereign risk premia rather than an immediate market intervention. If accepted into AU/IMF advocacy or concessional financing frameworks, a 200bp reduction would lower future external borrowing costs and ease refinancing pressure on USD sovereign issuance like Kenya's Eurobonds, but it does not itself change current yields or scheduled repayments.

AU Common African Position and Global Trust Summit engagements ahead of October 2026 meeting.