dollarsshillingsKenya has raised $2bn from international investors, the largest debut for an African country in the sovereign bond market amid strong demand from pension funds, insurers and sovereign wealth funds seeking higher-yielding assets.

Kenya has raised $2bn from international investors, the largest debut for an African country in the sovereign bond market amid strong demand from pension funds, insurers and sovereign wealth funds seeking higher-yielding assets.

The much-delayed fundraising effort puts Africa on track to beat the record $11bn it raised last year from the international capital markets, after Zambia, Morocco and South Africa also issued bonds in recent months. Investors anticipate that Ghana and Ivory Coast will tap the capital markets before the end of July.