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Originally published by The Standard Business
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July 15, 2026
1mo ago

Safaricom, KPC receipts to push Kenya's forex reserves to 7-month high - CBK

Safaricom, KPC receipts to push Kenya's forex reserves to 7-month high - CBK

Kenya's foreign exchange reserves are set to climb to a seven-month high, bolstered by proceeds from the sale of a 15 per cent government stake in telecoms giant Safaricom..

✨ Key Highlights

Kenya's foreign exchange reserves are projected to reach a seven-month high, driven by significant inflows from the sale of government shares in Safaricom and receipts from the Kenya Pipeline Company (KPC) privatisation, alongside new funding from the World Bank.

  • The Safaricom deal alone is expected to bring in Sh244.5 billion.
  • Central Bank of Kenya (CBK) Governor Kamau Thugge anticipates the shilling will remain stable due to this bolstered buffer.
  • This influx reverses a recent drawdown used to defend the shilling amidst rising global oil prices due to Middle East tensions.

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