Kenya: Pinebridge Backs Kenya's Cash Call

18 February 2014

FUND manager, Pinberidge East Africa, yesterday backed Kenya's planned sovereign bond saying it will be positively received. The fund that manages wealth in excess of Sh172 billion in Kenya and Uganda said the Sh129.5 billion to Sh172.7 billion ($1.5 and $2 billion) bond would have a positive impact on public funding and shore up her foreign reserves.

"We expect it in the course of this quarter although it is not yet clear whether it will be $1.5 or $2 billion," Pinebridge East Africa chief executive Jonathan Stichbury said. "Risk of investment in Kenya is relatively lower than it was in one or two years ago and we expect a lot of interest(from international investors) and to be well subscribed." He cited smaller-sized economies like Rwanda that last year had successful debut bonds as a pointer to the success.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.