The Central Bank of Kenya (CBK) has re-entered the market with a Sh50 billion tap sale of Treasury bonds, following its rejection of most bids in the August reopening. This sale, offering additional units of two existing bonds, is open from August 19 to August 21, with settlement on Monday, August 25, 2025.

• The government rejected 70.7 percent (Sh228.4 billion) of bids in the recent August auction, despite an oversubscription of 259.3 percent.
• David Luusa, Director of Financial Markets at CBK, stated the tap sale will operate on a first-come, first-served basis, priced at the average rate of accepted bids from the August auction.
• The 15-year bond (IFB1/2018/015) has a coupon rate of 12.5 percent and an accepted yield of 12.99 percent, while the 19-year bond (IFB1/2022/019) offers a coupon rate of 12.97 percent and a yield of 13.99 percent.