Investing in Kenya from abroad
Kenyan returns are higher than most savings accounts abroad, but you earn them in shillings. If the shilling weakens, part of that extra return is lost when you convert back.
The two numbers that decide it
- The gap in returns: about 8.5% after tax in a Kenyan money market fund, compared with what you earn abroad.
- How fast the shilling falls: it went from about KSh 157 to the US dollar in January 2024 to KSh 129.79 in September 2026. Over longer periods it has usually weakened, so plan for some fall.
The calculator finds the break-even: how fast the shilling can fall before investing in Kenya stops paying off.
Ways to invest from abroad
- Money market funds: most accept diaspora investors and let you top up online. See our money market fund guide.
- T-bills and bonds: buy directly from the Central Bank on DhowCSD if you have a Kenyan bank account. See how to buy T-bills.
- Dollar funds: some Kenyan fund managers run US dollar money market funds. Lower returns, but no currency risk if you'll spend the money in dollars.
Frequently asked questions
Is tax charged if I live abroad? Interest from Kenyan T-bills, bonds and money market funds has 15% withholding tax taken at source for non-residents. You may also owe tax where you live: check the rules there.
What about building a house back home? Use the rent vs buy calculator to compare the numbers, and only send building money to people and accounts you can verify.
For education only, not financial advice. Exchange rates move every day and no one can predict them. Rates shown are CBK indicative mean rates; the rate you actually get will be lower after the provider's margin.