Kenya: Competition for Domestic Borrowing Set to Rise

The government is set to tap the domestic capital market with a planned Sh33 billion infrastructure bond to cover a gap left by the delayed issuance of a sovereign bond put off due to the debt crisis in Europe.

"We cannot go to Europe and raise funds as it's going to be expensive due to the debt crisis facing the zone, hence the need to focus on the domestic market, which has proven resilient," said Finance assistant minister Oburu Odinga.

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