State taps KDF housing allowances to pay back Sh3bn Sukuk bond

Author: George NgigiPublished on: July 15, 2026Country: Kenya

Business & Economy

State taps KDF housing allowances to pay back Sh3bn Sukuk bond

Kenya will use housing allowances of Kenya Defence Forces (KDF) officers to repay investors of the Sh3 billion Sukuk bond issued in May 2024 to finance construction of 3,069 military housing units. Repayments will begin in August 2026 after a two-year moratorium. The bond, rated A+ by GCR Ratings, offers an 11.8 percent return and matures in May 2039. The houses are being built in Roysambu, Kwambuzi, Mariakani, Lanet and Gilgil.

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