These fixed-income investments are very liquid and offer a higher rate of return than a T-bill but a lower rate than a T-bond. They’re sold in increments of two, three, five, seven, or 10 years.

Rates of fixed deposits in Kenya reached a 24-year high last year, with cash-rich firms and high net-worth depositors earning an average of 10.1 per cent, according to data by the Central Bank of ...