Nairobi, Aug. 13 -- Investors splashed a record Sh460.4 billion for the purchase of three infrastructure bond (IFB) bonds, underlining the abundance of cash in an economy that is seeking passive investments over setting up businesses.

In the August bond, the Central Bank of Kenya (CBK) targeted Sh150 billion from three reopened IFBs and received three times the securities on offer.

CBK accepted Sh312 billion from the offer, handing back Sh148.37 billion to investors.

The sale marks a continuation of the recent trend of Kenyans pouring billions of shillings into bonds and money market funds while shunning riskier ventures like starting a business, which presents an opportunity for the economy to create new jobs.

For businesses that hav...