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Article

Kenya's foreign exchange reserves hit a historic $15.4 billion, boosted by the government's partial divestiture of Safaricom.

Capital FM Business Kenya Aug 2, 2026
Read the original Article page

TL;DR

The Central Bank of Kenya reported that forex reserves rose by a record $1.55 billion this week to reach an all-time high of $15.4 billion.

The reserve surge was primarily driven by capital inflows from the Kenyan government's partial divestiture of Safaricom.

Intelligence

CBK Governor Kamau Thugge projected further growth as $855 million is expected to arrive from South Africa's Nedbank acquiring a 66% stake in a local bank.

A robust forex reserve covering 6.4 months of imports provides the CBK with significant capacity to defend the Kenyan Shilling against volatility.

For Nairobi's tech founders, a stable shilling reduces foreign exchange losses on dollar-priced software licenses, cloud infrastructure, and offshore debt.

Furthermore, massive inbound transactions like the Safaricom divestiture and the Nedbank acquisition signal strong foreign investor interest in Kenya's financial assets despite recent macroeconomic headwinds.

Funding extracted from this article

1
local Kenyan bank Acquisition · $855 million

Regulatory activity extracted

0

No regulatory actions were extracted from this article.

Tenders extracted

0

No tenders were extracted from this article.

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