Japan commits $169M via bond

Kenya has secured up to ¥25 billion (about USD 169 million) in Samurai bond financing from Japan. The money is intended to support local assembly and manufacturing of parts. The funds will also help reduce electricity transmission and distribution losses, which currently account for roughly 23% of national output. This funding is within the larger scope of Kenya to decrease the cost of borrowing by accessing the markets of yen-denominated debts.