S&P Upgrades Kenya's Sovereign Rating to 'B'; NSE Investor Wealth Jumps by KSh1 Trillion - August 2025

S&P Global Ratings has upgraded Kenya's long-term sovereign credit rating to ‘B’ from ‘B-’, maintaining a stable outlook. The upgrade was attributed to reduced near-term external liquidity risks, easing external financing pressures, and stronger foreign exchange reserves. In a related market development, the Nairobi Securities Exchange (NSE) has seen investor wealth increase by KSh1 trillion since CEO Frank Mwiti took over in May 2024. The NSE's market capitalization reached KSh2.678 trillion. The NSE All Share Index closed at 170.03 on Friday, August 22, 2025, having doubled in value in nine months.