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Originally published by The Standard BusinessSeptember 21, 2026
1h ago
Ruto offers Kenya as test case on African risk

President Ruto says Kenya will open its risk data to rating agencies, challenging African financing rules that favour government debt over infrastructure, calls for reforms based on local evidence...
✨ Key Highlights
President William Ruto has offered Kenya as a test case for how African risk is assessed, proposing to share default and recovery data with rating agencies to ensure fairer evaluations.
- Kenyan pension funds hold 46% of their Sh3.2 trillion ($24.7 billion) in government securities, with only 0.02% in infrastructure debt, despite regulations allowing up to 10% investment in projects.
- The proposal was made by President William Ruto at the Africa We Build High-Level Roundtable in New York, convened by the Africa Finance Corporation (AFC).
- Ruto argued that financial rules, not a lack of capital, are hindering African infrastructure development by steering savings towards government securities perceived as less risky than productive assets.
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