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Kenya asks IAEA for Phase II review and technical support to ready nuclear plant by 2034

On 6 September 2026 Kenya formally asked the IAEA for a Phase II Integrated Nuclear Infrastructure Review (INIR) mission in Q4 2026 and expanded technical support, aiming to move from institutional preparation to implementation and to commission its first nuclear plant by 2034 (proposal includes a Sh500 billion plant in Siaya).

On 6 September 2026 Kenya formally asked the IAEA for a Phase II Integrated Nuclear Infrastructure Review (INIR) mission in Q4 2026 and expanded technical support, aiming to move from institutional preparation to implementation and to commission its first nuclear plant by 2034 (proposal includes a Sh500 billion plant in Siaya).

If the IAEA accepts a Phase II INIR mission and provides expanded advisory and capacity-building support, Kenya will need to deepen project-level planning, select technology and contractors, and likely increase medium- to long-term external financing and contingent-liability planning (eg sovereign guarantees for an owner-operator). This transmission is conditional on mission findings, procurement choices and any subsequent government guarantees; it does not assert immediate market repricing.

IAEA decision and timing of the Phase II INIR mission and its published findings (expected Q4 2026).

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Further independent confirmation is required.

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Price Discovery

Kenya sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

11 priced bonds
10.89%9.66%8.44%7.22%6.00%20272032203720422048Kenya 27 · May 2027 · 6.647%Kenya 28 · Feb 2028 · 7.189%Kenya 31 · Feb 2031 · 8.149%Kenya 32 · May 2032 · 8.952%Kenya 33 · Oct 2033 · 9.153%Kenya 34 Jan · Jan 2034 · 9.338%Kenya 34 Feb · Feb 2034 · 9.792%Kenya 36 · Mar 2036 · 9.944%Kenya 38 · Oct 2038 · 10.204%Kenya 39 · Feb 2039 · 10.239%Kenya 48 · Feb 2048 · 9.964%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Kenya 27May 2027100.1886.647%
  • Kenya 28Feb 2028100.0637.189%
  • Kenya 31Feb 2031104.5008.149%
  • Kenya 32May 203296.5008.952%
  • Kenya 33Oct 203394.2509.153%
  • Kenya 34 JanJan 203484.2509.338%
  • Kenya 34 FebFeb 203491.1259.792%
  • Kenya 36Mar 203697.5009.944%
  • Kenya 38Oct 203890.87510.204%
  • Kenya 39Feb 203989.81310.239%
  • Kenya 48Feb 204884.9389.964%

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