In a case that could redraw Kenya financial future, Busia Senator Okiya Omtatah has taken the question of sovereign debt to the High Court, asking judges to declare that most of the money borrowed during former President Uhuru Kenyatta administration was illegal. The petition centers on Kenya borrowing between 2014 and 2024, a period spanning…
Kenya National Treasury is facing heightened scrutiny after an audit revealed it inflated the 2024/25 fiscal deficit to KSh1.26 trillion without approval from lawmakers, raising concerns about adherence to debt management rules and fiscal discipline. The findings, detailed in a report by Auditor General Nancy Gathungu, show that the deficit exceeded the KSh768.6 billion approved…
The Environment and Land Court in Mombasa has ordered the County Executive Committee Member for Finance to pay more than KSh2.7 million to a law firm over unpaid legal fees, concluding a dispute that dates back to 2021. According to court documents, Miller & Company Advocates was contracted in November 2021 to represent the County…
Kenya domestic debt has reached a record KSh7.14 trillion as of 20 March, reflecting increased reliance on local borrowing amid limited access to external financing. Data from Central Bank of Kenya shows the figure rose from KSh7.05 trillion in February and KSh6.86 trillion at the end of December 2025, highlighting a sharp rise within a…
Kenya has told the International Monetary Fund it does not need its money — at least not before the financial year closes in June. Buoyed by billions of shillings flowing in from asset sales and bond markets, Treasury officials say the country has plenty of room to fund its budget without submitting to the fund’s…
Kenya finds itself trapped in a fiscal spiral that no amount of political maneuvering can paper over. The numbers are stark, total public debt has surged past Sh12.29 trillion — roughly $80 billion — by the end of December 2025, representing a 4 percent increase from just six months earlier and standing at approximately 2.6…
As the dust settles on the G20 summit in Johannesburg, a palpable sense of missed opportunity lingers across the Global South. Leaders from the world’s major economies gathered over the weekend promising bold action on the debt crisis strangling developing nations, yet walked away with little more than recycled pledges. Summit ends in disappointment South…
