We are however still a long way to achieve liquidity, market efficiency and stability. The 2012–13 financial year was a great success with respect to raising the borrowing requirement for the Government. The Market Leaders Forum together with market stakeholders contributed significantly to the success of the bond market in terms of the following: 1.
Successful financing of the FY 2012–13 Borrowing Plan: Treasury’s target for the year was successfully achieved reflecting a sterling performance especially given that this was the highest in the history of domestic borrowing at Kes. 165bn. 2. Benchmark Bonds Program Implementation: Successful implementation of this program during the year was critical for addressing bond market fragmentation and increasing liquidity in the market.