Kenya has lost more than 6,700 shares valued at approximately Sh12 billion at the African Development Bank (AfDB) after failing to meet its annual subscription payment obligations. 
By Fredrick Kioko. Kenya has lost more than 6,700 shares valued at approximately Sh12 billion at the African Development Bank (AfDB) after failing to meet its annual subscription payment obligations.
The development has seen the country’s shareholding at the continental lender decline from 1.2 per cent to about 1 per cent, reducing Kenya’s stake and influence within the institution.
The forfeited shares were subsequently taken up by other member countries, further diluting Kenya’s position at the bank.
The loss highlights the financial implications of missed subscription commitments, as countries compete to strengthen their ownership stakes and voting power within key international financial institutions.
