Kenya’s foreign exchange reserves have risen to a record US$15.4 billion, the highest level in the country’s history, following a sharp increase driven by capital inflows from the government’s partial divestiture of its stake in Safaricom.
According to the Central Bank of Kenya (CBK), the country’s reserves increased by US$1.55 billion during the week, rising from US$13.85 billion recorded the previous week.
The latest increase has boosted Kenya’s import cover to 6.4 months, up from 5.9 months a week earlier, further strengthening the country’s external position.
In its weekly financial markets update released on Friday, the CBK said the current reserve levels remain well above the statutory requirement.
“This meets CBK’s statutory requirement to endeavor to maintain at least four months of import cover,” the central bank said.
The sharp rise in reserves was largely attributed to proceeds from the government’s partial sale of its stake in Safaricom, Kenya’s largest telecommunications company.
CBK Governor Kamau Thugge said the country’s foreign exchange reserves are expected to increase further in the coming weeks following the anticipated inflow of about US$855 million from South Africa’s Nedbank, which is acquiring a 66 percent stake in a Kenyan bank.
The record reserves are expected to enhance the country’s ability to meet external financial obligations, cushion the economy against global shocks and support stability in the foreign exchange market.
Kenya’s foreign exchange reserves have remained above US$12 billion since January 2026, providing continued support for the stability of the Kenya shilling against major international currencies.
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