Kenya accepts ~KSh22.51bn in August switch, moving near-term redemptions into Nov-2029 benchmark

On 26 August 2026 Kenya’s CBK accepted about KSh22.51 billion of switch bids, converting specified Treasury bills and FXD1/2012/015 holdings into T-bond FXD4/2019/010 due 12 November 2029. The operation drew 150.55% subscription and shifts part of near-term domestic refinancing into the 2029 local curve.

The accepted switch reduces immediate domestic cash redemptions by converting near-term T-bill and 2027 bond maturities into a medium-duration November 2029 benchmark. This eases short-term refinancing pressure and can deepen the three- to five-year segment of Kenya’s local curve. It does not, however, provide evidence of demand for Kenya’s external Eurobond market or change external financing risks.

Settlement reporting through the DhowCSD system and participation in subsequent monthly switch auctions under the 2026/27 borrowing plan.