Nairobi, June 1 -- Kenya has lost 6,715 shares at the African Development Bank (AfDB), valued at Sh11.9 billion, after it failed to complete annual subscription, affecting its ownership in the multilateral lender.

Latest disclosures by the bank show that Kenya's shares at the end of December stood at 180,161, down from 186,876 at the end of 2024, diluting its shareholding to 1.034 percent from 1.16 percent.

The shares, which are valued at Sh11.9 billion, were taken by other countries in the AfDB, which is owned 8.5 percent by Egypt, Nigeria (7.6 percent) and the United States (5.5 percent).

An AfDB share is valued at Sh1.77 million, but countries are expected to pay only six percent of the going price to keep their shares. The remainin...