Kenya's Food Import Bill Rises to Sh288B; Treasury Targets 82% Domestic Borrowing Amid US$6B Oil Investment - February 2026

Kenya's food import bill increased by Sh4.8 billion to reach Sh288.1 billion last year, reversing a previous decline due to renewed drought pressures. In its fiscal policy, the National Treasury of Kenya plans to significantly increase domestic borrowing, targeting 82 percent of its gross borrowing from the local market under its 2026–2029 strategy. On the investment front, Kenya's Gulf Energy E&P BV has affirmed its commitment to invest US$6 billion in the Turkana oil production project. The company aims to achieve crude oil production by December 1, 2026.