National Treasury’s new borrowings to bypass debt watchdogs

National Treasury building in Nairobi.

Treasury’s move to raise cash via private placement from local investors will take away the pride of banks, which have controlled more than 50 per cent of the local debt market.

Treasury is seeking alternative sources of funds with maturities ranging from 30 years, an option that is not available in bank loans and public bonds, but it could achieve this in private placements of its debt securities.