S&P has upgraded Kenya's long-term sovereign credit rating to 'B' from 'B-', citing reduced liquidity risks driven by stronger foreign exchange reserves and easing near-term external financing pressures.

• Kenya's foreign reserves hit $11.2 billion (Sh1.46 trillion) in July 2025, significantly up from $6.6 billion (Sh858 billion) at the end of 2023.
• The credit rating agency, S&P, improved Kenya's rating due to robust export earnings and diaspora remittances.
• The Central Bank of Kenya has eased its policy since August 2024, cutting rates by a cumulative 350 basis points to 9.5%, lowering government borrowing costs.