Kenya has forfeited African Development Bank (AfDB) shares worth approximately $92 million after failing to make its annual subscription payment. This development comes at a time when Kenya’s borrowing from the bank has risen significantly, raising concerns that the loss will severely weaken its clout and influence in the bank’s governance and decision-making processes.
According to the bank’s official disclosures, the Kenyan National Treasury failed to complete an annual subscription of roughly $10 million. As a result, the country’s ownership stake fell to 1.034% at the end of 2025, down from 1.16% a year earlier. Consequently, Kenya lost 6,715 shares, which other member states can now absorb.
Because member states are only required to pay a small fraction of a holding’s value upfront—with the remainder held as a callable commitment—missing this relatively small payment cost Kenya a disproportionately large block of shares.
