The Central Bank of Kenya (CBK) has reopened two Treasury bonds targeting a combined Sh50 billion as the government intensifies efforts to raise funds for budgetary needs.
In a prospectus dated Tuesday, November 10, 2026, the CBK announced the reopening of two fixed-coupon Treasury bonds with original tenors of 15 and 30 years, carrying 7.3 years and 14.3 years to maturity, respectively.
Treasury bonds offer returns of 12.857% and 12.5%
The first bond, FXD1/2019/015, carries an annual coupon rate of 12.857 per cent and is due on January 9, 2034. The second, SDB1/2011/030, offers a coupon of 12.5 per cent and matures on January 21, 2041.
Both securities are subject to a 10 per cent withholding tax on interest earnings.
The CBK will accept applications from November 10 through November 18, 2026, with the submission deadline set for 10 am on the final day.
The auction is scheduled for November 23, while successful bids will be settled on November 25, 2026.
Minimum investment requirements
Investors must have active DhowCSD accounts to participate in the auction.
Non-competitive bids will be accepted from Sh50,000, with an upper limit of Sh50 million per investor. Competitive applications require a minimum investment of Sh2 million per Central Securities Depository (CSD) account for each bond.
The auction will operate under a multi-price bidding framework, allowing investors to receive allocations at their respective accepted bid prices.
The CBK may distribute the securities fully or proportionately, depending on the applications received. It also retains discretion to approve bids in full, award partial allocations or decline applications without explaining its decision.
Successful applicants will be required to retrieve their payment keys and amounts due through the CBK DhowCSD Investor Portal or mobile application under the Transactions section on Friday, November 20, 2026.
Treasury bonds to trade on NSE
The reopened securities are scheduled to commence secondary market trading at the Nairobi Securities Exchange (NSE) on November 23, 2026.
Trading will be conducted in denominations of Sh50,000, providing investors with an opportunity to buy or sell the bonds after issuance.
How to register for DhowCSD
Investors interested in participating in the auction must first establish a DhowCSD account with the Central Bank.
Registration can be completed online using a smartphone or computer connected to the internet.
Applicants are required to submit a valid email address, an active mobile number registered with a Kenyan telecommunications provider, their Kenya Revenue Authority (KRA) PIN and settlement bank account details.
The registration process also requires a recent passport-size photograph and a valid identification document, including a national identity card, passport or alien card.
According to CBK, applicants must complete registration within seven days. Incomplete applications are automatically removed from the system after the deadline.
Upon successful approval, applicants receive their usernames through email, which they can use alongside their registered email addresses to log into the DhowCSD Investor Portal or mobile application and access investment services.
