The Central Bank of Kenya (CBK) has launched a KSh 50 billion tap sale of two infrastructure bonds, following last week's significant oversubscription which saw KSh 228 billion in rejected bids.

• The sale, running from August 19 to August 21, 2025, includes the fifteen-year IFB1/2018/015 and nineteen-year IFB1/2022/019.
• The initial offer attracted bids worth KSh 323.4 billion against a target of KSh 90 billion, with CBK accepting KSh 95 billion.
• This tap sale aims to capitalize on strong investor interest in tax-free government securities, with allotment on a first-come, first-served basis.

A new Central Bank of Kenya (CBK) survey reveals an uneven economic recovery, with the manufacturing and health sectors struggling financially despite broader economic growth. While sectors like agriculture, finance, ICT, and tourism are expanding, manufacturers face severe liquidity issues and high operational costs, while healthcare providers battle liquidity shortfalls from delayed government payments and cuts in donor funding.

• Manufacturing sector margins are described as “razor-thin” due to soaring energy bills, taxes, and logistics charges.
• The CBK conducted the Post-MPC Chief Executive Officers (CEOs) Survey.
• Hospitals and health programmes face delayed government payments and global donor funding cuts due to shifting U.S. and international policy priorities.