By Michelle Ndaga
Kenya has received a significant boost in its economic outlook after S&P Global Ratings upgraded the country’s credit rating from B- to B with a stable outlook.
The National Treasury described the move as a “major vote of confidence,” noting that it reflects the success of government reforms and prudent economic management.
A credit rating functions like a financial report card, showing global investors how safe it is to lend to or invest in a country.
According to Treasury officials, the upgrade was driven by progress in boosting exports, supporting diaspora remittances, building foreign exchange reserves, and advancing reforms in debt management, fiscal discipline, and e-procurement systems.
For Kenyans, the improved rating is expected to translate into stronger investor confidence, lower borrowing costs, more business opportunities, and job creation.
President William Ruto, speaking earlier this week, projected Kenya’s economy to expand by 5.6% in 2025, saying the S&P upgrade confirms that reforms are working and stability is returning.
