How to invest in Kenya from abroad
Updated 15 October 2026 · 7 min read
Kenyan investments often pay more than a savings account in London, Dubai or Texas. But you earn in shillings, you're far from home, and fraudsters know it. This guide covers the main options, how to move money, tax, and the risk that matters most: the exchange rate.
Before you start
You'll need your Kenyan ID or passport, a KRA PIN (you can get one online), an email address, a mobile number for one-time codes, and a Kenyan bank account you can run online from abroad. Most options below pay you into that account, so open it first. If you only have a foreign phone number, check with the provider that it works for their codes.
Option 1: T-bills and bonds on DhowCSD
You can buy Government of Kenya T-bills and bonds directly from the Central Bank on the DhowCSD app or website, with no fees.
- T-bills: 91, 182 or 364 days, from KSh 50,000 face value. At the auction dated 12 Oct 2026, the 364-day bill paid 9.04%, or 7.58% after tax.
- Treasury bonds: 2 to 30 years, with interest every six months. From KSh 50,000.
- Infrastructure bonds: tax-free interest. See our infrastructure bonds guide.
You pay for your bids by bank transfer from your Kenyan account, so fund it before the payment deadline. Our DhowCSD guide walks you through each step. See what you'd earn with the T-bill calculator or bond calculator.
Option 2: Money market funds
A money market fund (MMF) pools savers' money into short-term, low-risk investments. Most Kenyan fund managers accept investors abroad and let you sign up and top up online.
- Shilling MMFs: the highest yield we track is Cytonn at 11.03%, about 9.38% after tax (as at 13 October 2026). You can usually withdraw in 1 to 3 working days.
- US dollar MMFs: several Kenyan managers run dollar funds approved by the Capital Markets Authority (CMA). They pay less than shilling funds, but there's no currency risk if you'll spend the money in dollars.
Only use funds licensed by the CMA. Compare money market funds.
SACCOs and property: be careful
SACCOs. Some SACCOs welcome members abroad and pay good dividends. Before you join, check the SACCO is on this year's SASRA list of licensed SACCOs, and check the exact registered name: copycat names exist.
Land and houses. Property is where most diaspora money is lost. Common scams include fake title deeds, land sold twice, plots on road reserves, and "relatives" or agents who disappear with building money.
- Do an official land search on Ardhisasa or at the lands registry. The owner's name must match the seller's ID.
- Use your own lawyer, chosen by you, not by the seller, and check them with the Law Society of Kenya.
- Visit, or send someone you trust, to see the land and the registry file.
- Pay only into accounts you have verified, and confirm any change of bank details by calling a number you already have.
- Pay builders in stages, against photos, video calls and inspections.
Run the numbers first with the rent vs buy calculator.
Sending money home
The cost of sending money has two parts: the fee you see, and the exchange rate margin you often don't. The provider gives you fewer shillings than the official rate and keeps the difference. A "zero fee" transfer can cost more than one with a fee if the rate is worse, so compare how many shillings arrive for the same amount sent.
- Banks: good for large amounts and for paying straight into your Kenyan bank account, but often a wider rate margin.
- Remittance providers and apps: usually cheaper and faster for regular transfers. Check they're regulated where you live.
Tax: two countries may want a share
- In Kenya: withholding tax, usually 15%, is taken from interest on T-bills, Treasury bonds and money market funds before you're paid. Infrastructure bond interest is tax-free.
- Where you live: your home country may tax your Kenyan income too. Many give credit for tax already paid in Kenya, especially where there's a tax treaty. Check with your local tax authority.
Whether you count as resident in Kenya depends on where your permanent home is and how many days you spend there, not on your passport.
Currency risk, simply explained
Your return is in shillings. When you bring it home, what matters is how many dollars or pounds it buys. Here's a made-up example, using KSh 100 to the dollar to keep the maths easy:
| Shilling stays at 100 | Weakens to 110 | Strengthens to 95 | |
| You invest | KSh 1,000,000 ($10,000) | KSh 1,000,000 ($10,000) | KSh 1,000,000 ($10,000) |
| After a year at 10% net | KSh 1,100,000 | KSh 1,100,000 | KSh 1,100,000 |
| Worth in dollars | $11,000 | $10,000 | $11,579 |
A 10% return was wiped out by a 10% fall in the shilling. Over long periods the shilling has usually weakened against the dollar and pound, though not every year.
The diaspora calculator shows how fast the shilling can fall before investing in Kenya stops beating saving where you live. If you plan to spend the money in Kenya (school fees, a house, retirement), currency risk matters much less.
Frequently asked questions
Can I invest in Kenya while living abroad?
Yes, Kenyans abroad can buy T-bills and bonds on DhowCSD and invest in money market funds, as long as they have a Kenyan bank account and a KRA PIN.
What is the safest diaspora investment in Kenya?
Government T-bills and bonds bought directly on DhowCSD are the safest shilling investment, because they're backed by the Government of Kenya. A dollar money market fund also removes currency risk.
Do I pay tax in Kenya if I live abroad?
Yes, withholding tax (usually 15%) is taken from interest on T-bills, bonds and money market funds before you're paid. You may also owe tax in the country where you live.
How do I avoid land fraud when buying from abroad?
Do an official land search, hire your own lawyer, and pay only into accounts you have checked yourself. Never rely on a relative's or agent's word alone.
For education only, not financial advice. Exchange rates move every day and no one can predict them. Check tax rules in Kenya and where you live before you invest.