Hello, this is Jason. Welcome to today’s edition of The Business Roundup, where we bring you the latest updates on Kenya’s dynamic business landscape. In this edition, we dive into the country’s latest debt restructuring move, key developments in international trade, hiring opportunities at the Independent Electoral and Boundaries Commission (IEBC), and a diplomatic breakthrough with Tanzania.
Kenya secures Ksh193 billion loan, pays 0ff Ksh129 billion Eurobond early
Kenya has successfully secured USD 1.5 billion (Ksh193.8 billion) from international markets, a transaction that also enabled the country to retire USD 1 billion (Ksh129.2 billion) of the 2028 Eurobond ahead of schedule.
In a statement released Friday, October 3, Treasury Principal Secretary Chris Kiptoo described the deal as a demonstration of the government’s ongoing commitment to prudent debt management.
“This is the third such transaction since 2024, and it shows the Government’s firm commitment to managing debt more wisely, paying off loans on time, and protecting Kenyans from sudden repayment shocks,” he said.
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The funds were raised through a two-part issuance: a 7-year loan at an interest rate of 7.875% and a 12-year loan at 8.8%, resulting in a blended rate of 8.7%—about one percentage point lower than what Kenya would have paid earlier in the year.
“By securing this deal, the Government has also smoothened and lengthened loan repayments, giving Kenya more breathing space in managing its finances,” Kiptoo added.
Investor appetite was notably strong, with the issuance attracting over USD 7.5 billion (Ksh969 billion) in bids—five times more than the amount sought. Kiptoo credited this to support from international fund managers, particularly in the United States and the United Kingdom, saying it signals renewed global confidence in Kenya’s economy.
The move also helps restructure debt maturing in 2027, giving the country room to balance development financing with sustainable borrowing.
AGOA expires
In other positive news, President William Ruto held a high-level consultative meeting with stakeholders in Kenya’s apparel and textile industry, following growing concerns over the impending expiry of the African Growth and Opportunity Act (AGOA)—a U.S. trade deal that has been vital to the sector.
Enacted by the U.S. Congress in May 2000, AGOA has provided duty-free access for African goods into the U.S. market. Kenya and Lesotho have been among the key beneficiaries. Its expiry, however, now casts uncertainty over thousands of jobs.
In a statement on Thursday, October 2, President Ruto reassured stakeholders of his administration’s commitment to a favorable outcome.
“I briefed stakeholders on my recent discussions with U.S. Secretary of State Marco Rubio in Washington, where we explored not only the extension of AGOA but also the establishment of a long-term framework to guarantee stable and predictable market access for our products,” read part of the statement.
The President emphasized that operations in the sector will continue without disruption, even as talks with the U.S. proceed “with the urgency they deserve.”
IEBC jobs
Switching gears to domestic job opportunities, IEBC has opened applications for short-term employment opportunities across Kenya. According to a public notice, IEBC is hiring voter registration clerks for 57 Huduma Centres countrywide.
The commission is also recruiting poll officials for the by-elections scheduled for November 27, 2025. These roles include Presiding Officers, Deputy Presiding Officers, Ward-Based Voter Educators, Polling Counting Clerks, ICT Clerks, and Support Electoral Trainers (SETs).
Selected individuals will earn daily wages ranging between Ksh1,000 and Ksh2,500. IEBC has encouraged qualified Kenyans to apply promptly as preparations for the by-elections intensify.
Relief for Kenyan traders as Tanzania reverses business ban
And finally, Kenya and Tanzania have reached an agreement following bilateral consultations over Tanzania’s recent business licensing order that banned foreign nationals—including Kenyans—from engaging in 15 business sectors.
In a statement dated October 2, the Government of Kenya announced that the matter had been resolved through dialogue. “We are pleased to report that through constructive dialogue in the just concluded bilateral consultation between the Republic of Kenya and the United Republic of Tanzania, the two Governments reached an understanding,” the statement read.
The Tanzanian government had previously issued Government Notice No. 487A dated July 28, 2025, which barred licensing authorities from issuing or renewing business licenses for foreigners in the specified sectors. The move was intended to protect local entrepreneurs.
ALSO BIG THIS WEEK
- NCBA Group PLC announced the resignation of its Group Company Secretary, Kathryne Kamene Maundu, effective October 1, 2025, as she steps aside to pursue personal interests.
- Kenyans will spend more in October 2025 when applying for the Diversity Visa (DV) lottery program.
- The Kenya Revenue Authority (KRA) informed employers, employees, and the general public that the Finance Act, 2025 amended the Income Tax Act, Cap 470 (“the Act”) to mandate employers to apply all relevant tax deductions, reliefs, and exemptions when computing income tax on employee emoluments.
- The High Court suspended the police recruitment exercise, which was scheduled to run from October 3, 2025.
- Kenya launched a tender offer to repurchase its entire USD 1 billion (Ksh129,240,000,000) 7.25% Eurobond due 2028, in a move aimed at easing pressure on its external debt profile.
Currency trends
The Kenya Shilling remained stable against major international and regional currencies during the week ending October 2, 2025. It exchanged at Ksh129.24 per U.S. dollar on October 2, compared to Ksh129.26 per US dollar on September 25.
Kenya’s apex bank, the Central Bank of Kenya (CBK), quoted the shilling at Ksh129.2400 on Friday, October 3.
Against other major currencies, the shilling traded at:
- Sterling Pound – Ksh173.6210
- Euro – Ksh151.4434
- South African Rand – 7.4729
- Japanese Yen (100 units) – Ksh87.5076
Against regional currencies, the shilling exchanged at:
-
- Ugandan Shilling – Ksh26.8106
- Tanzanian Shilling – Ksh18.9957
- Rwandan Franc – Ksh11. 2325
That’s it for today’s Business Roundup. I’m Jason—thank you for tuning in. Stay informed and see you next time with more updates on Kenya’s evolving business environment.
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