The nation's currency and shares have climbed after it successfully issued a new $1.5 billion Eurobond in February to finance the partial repurchase of another bond maturing in June.

Kenya to cut 2024/25 spending plan by 12pc

By REUTERS More by this AuthorKenya will reduce its spending plan for the financial year starting this July by 12 percent to Ksh3.7 trillion ($28.35 billion), President William Ruto said, as part of efforts to attain a balanced budget in the next three years.
"We are reducing our budget from four point, almost Ksh4.2 trillion to Ksh3.7 trillion," Ruto told Kenyans in Ghana in a video seen by Reuters on Wednesday.
Read: Kenya 'out of debt distress', Ruto says"We need to live within our means... we are shedding off fat."
The president was in Ghana on Tuesday for a state visit.
AdvertisementDuring a meeting with chief executives of state-owned companies late last month, Ruto said his government wanted to move to a balanced budget within three years.