Prime Cabinet Secretary Musalia Mudavadi announced Kenya's plan to issue a diaspora bond targeting citizens living abroad, aiming to raise significant funds for public finances and infrastructure development.

• The government expects to raise between $250 million (Ksh32.3 billion) and $500 million (Ksh65 billion) initially, with a long-term goal of mobilizing $3.8 billion (Ksh491 billion) in diaspora investments.
• The World Bank is reportedly in talks with Kenya to structure the bond, which will fund sectors like energy and transport.
• This initiative is part of broader efforts to find alternative financing, including privatization and public-private partnerships, amidst current economic challenges and ongoing discussions with the International Monetary Fund (IMF).