Wealthy investors shell out record Sh1trn for seven bonds

Wealthy investors and fund managers splashed a record Sh1 trillion on seven bonds over four months, reflecting the abundance of cash in an economy that is favouring passive investments over setting up businesses.

Investor bids in auctions since July topped the Sh1 trillion mark, which was more than double the Sh480 billion sought by the Central Bank of Kenya (CBK) in the sales.