NAIROBI, Kenya — Kenya’s foreign exchange reserves have climbed to a historic high of $15.4 billion (about Sh2 trillion), buoyed by capital inflows from the government’s partial divestiture of its stake in Safaricom.
According to the Central Bank of Kenya’s (CBK) latest weekly financial markets update released on Friday, the reserves increased by $1.55 billion from $13.85 billion recorded the previous week.
The central bank attributed the sharp rise primarily to proceeds from the government’s sale of part of its shareholding in Safaricom, Kenya’s largest telecommunications company.
The latest reserve level is sufficient to cover 6.4 months of imports, up from 5.9 months a week earlier, comfortably exceeding the CBK’s statutory requirement of maintaining at least four months of import cover.
“This meets CBK’s statutory requirement to endeavor to maintain at least four months of import cover,” the central bank said.
CBK Governor Kamau Thugge said the country’s foreign exchange position is expected to strengthen further in the coming weeks following the anticipated inflow of approximately $855 million from South Africa’s Nedbank, which is acquiring a 66 per cent stake in a local Kenyan bank.
Kenya’s foreign exchange reserves have remained above $12 billion since January 2026, helping support the relative stability of the Kenyan shilling against major international currencies despite global economic uncertainties.
The record reserve level is expected to bolster investor confidence, strengthen the country’s external financial position, and provide the central bank with greater capacity to cushion the economy against external shocks.
