New KCC debts Stories

New KCC on the brink of collapse as Auditor General reveals billions in financial losses
Maureen Kinyanjui  |  Apr 28, 2025

The company's liabilities exceed its assets by Sh1.2 billion, indicating severe cash flow challenges exacerbated by reliance on bank loans and overdra...

Kenya's historic public debt audit set for completion in August
Maureen Kinyanjui  |  Apr 28, 2025

This historic review, the first of its kind since Independence, is set to provide a detailed breakdown of all debt accumulated by the government.

Saudi Arabia, Qatar to settle Syria's outstanding arrears of around $15 million to World Bank
Reuters  |  Apr 27, 2025

The plans would be the first known instance of Saudi Arabia providing financing for Syria since Islamist-led rebels toppled former leader Bashar al-As...

Senator Omtatah sues Uhuru, Ruto over trillions in public debt
Maureen Kinyanjui  |  Apr 26, 2025

In his suit, Omtatah wants former National Treasury CS Njuguna Ndung’u, Controller of Budget Margaret Nyakang’o, and Auditor-General Nancy Gathungu to...

Economist Fred Ogolla slams Ruto's economics, calls broad-based govt political gimmick
Barack Oduor  |  Apr 19, 2025

Broad-based government is a political solution to an economic problem. We cannot allow someone to give you a political solution to an economic problem...

Kenya secures Sh77.8 billion in short-term financing for roads
Reuters  |  Apr 16, 2025

The cash goes straight to the roads board, which conducts maintenance of roads on behalf of the government. Ruto's government has also turned to China...

Kenya not at risk of defaulting – Mbadi dismisses Nyoro’s claims on debt as irresponsible
Lucy Mumbi  |  Apr 16, 2025

While admitting that Kenya has encountered fiscal challenges, the CS maintained that the nation’s debt position remains sustainable.

Kiharu MP Ndindi Nyoro raises alarm over rising debt, warns of possible default
Maureen Kinyanjui  |  Apr 16, 2025

Speaking at the Institute of Public Finance’s annual budget review on Tuesday, Nyoro expressed concern that the country’s debt, now standing at Sh11 t...

Court blocks state from proceeding with sale of 11 parastatals, including KICC
Lucy Mumbi  |  Apr 15, 2025

The court dismissed the application, stating that the government failed to demonstrate how its pending appeal would be undermined without the suspensi...

Legislature asleep on its job as country sinks deeper into debt, warns Omtatah
Lucy Mumbi  |  Apr 07, 2025

Omtatah says the Senate has been deliberately edged out of the national budgeting process, leaving legislators like him powerless.

Treasury CS John Mbadi says Kenya's debt burden is suffocating the economy
Lucy Mumbi  |  Apr 06, 2025

The CS pointed to the misuse of short-term loans to fund long-term projects as one of the key mistakes that plunged the country into its current econo...

Kenya retracts comment on China debt talks, sowing confusion
Reuters  |  Apr 02, 2025

Kenya, which is struggling with a heavy debt load and the accompanying high debt service costs, caught investor attention last month when it ditched t...

Nearly 4.6 million people in Somalia face acute food insecurity due to reduced humanitarian aid, UN warns
Lucy Mumbi  |  Apr 02, 2025

The report further estimates that over 230,000 new IDPs will be displaced between April and June, with conflict and drought being the primary drivers.

Health CS Aden Duale forms 19-member committee to review pending NHIF claims
Lucy Mumbi  |  Mar 30, 2025

The NHIF Pending Medical Claims Verification Committee will be responsible for determining the legitimacy of outstanding medical claims accumulated be...

Wealthy nations owe climate debt to Africa – funds that could help cities grow
The Conversation  |  Mar 29, 2025

Africa is at the beginning of its urbanisation journey, the most rapid the world has ever seen. However, it cannot follow the same high-carbon industr...

Kenya not likely to attain debt sustainability until after 2029 – Treasury
Alfred Onyango  |  Mar 26, 2025

CBK data shows Kenya's public debt hit Sh10.027 trillion in the last week of June 2023, effectively breaching the then statutory debt ceiling which wa...

Suppliers struggle as government debt soars to Sh706 billion
Maureen Kinyanjui  |  Mar 20, 2025

Among the worst-hit state departments is the National Youth Service under the State Department of Public Service, which owes Sh14.27 billion.

Kenya can pay its external debt if corruption is cut by half - CS Mbadi
Maureen Kinyanjui  |  Mar 20, 2025

Mbadi highlighted that the ongoing fiscal consolidation strategy aims to boost revenue while curbing excessive spending.

Treasury CS Mbadi says Kenya will not halt borrowing despite Sh11.2 trillion debt
Lucy Mumbi  |  Mar 20, 2025

Kenya’s debt-to-GDP ratio stood at 65.7 per cent as of June 2024—well above the 55 per cent sustainability threshold.

Kenya yet to utilise Sh1.3 trillion in external loans - CS Mbadi
Maureen Kinyanjui  |  Mar 19, 2025

Treasury Cabinet Secretary John Mbadi revealed that these unutilized funds continue to accrue commitment and interest fees.

Government debt repayments jump by Sh68.7bn as interest costs soar
Lucy Mumbi  |  Mar 17, 2025

The sharp rise in domestic interest payments highlights the financial strain of borrowing from the local market as the government navigates rising deb...

IMF urges Kenya to balance loans acquisition with sound economic policies
Charles Adinda  |  Mar 14, 2025

Teferra reaffirmed the IMF's commitment to deploy the Extended Fund Facility, Extended Credit Facility and Rapid Credit Facility programmes to support...

Ruto: My debt audit plan will succeed with Raila's 'help'
Maureen Kinyanjui  |  Mar 07, 2025

The MOU between Ruto and Raila outlines the urgent need for a comprehensive audit to address concerns about ballooning debt and ensure accountability...

Hospitals and insurers among NHIF creditors as debt accumulates to Sh25.8 billion
Maureen Kinyanjui  |  Mar 07, 2025

A key concern raised in the report was the 2.7 million unverified hospital-related claims, making it difficult to determine NHIF's actual outstanding...

MPs approve 2025 Debt Management Strategy amid concerns over public borrowing
Charles Adinda  |  Mar 06, 2025

The approval comes barely three days after The Controller of Budget, Margaret Nyakang'o, challenged the Treasury to reduce the country's Gross Domesti...

Ruto’s administration withdrew Sh1.3 trillion manually in seven months - CoB
Lucy Mumbi  |  Mar 02, 2025

Treasury CS John Mbadi distanced his office from responsibility, saying individual accounting officers should explain why payments were processed manu...

Government under pressure to settle Sh161 billion debt by October 2025
Lucy Mumbi  |  Feb 27, 2025

Mbadi provided a breakdown of the repayment obligations, attributing the looming financial pressure to Eurobond and syndicated loans.

Kenya issues 10-year Eurobond worth Sh194 billion to ease debt repayment
Lucy Mumbi  |  Feb 27, 2025

CS Mbadi said the proceeds from this bond will be used to refinance existing external debt, including a planned buyback of a US$900 million (Sh116.3 b...

Govt making billions in domestic debt payments off-system, Controller of Budget warns
Lucy Mumbi  |  Feb 23, 2025

Some requisitions submitted for her approval lack specifics and are presented in lump sums, making it impossible to establish a clear breakdown of the...

Over half of Kenya’s revenue to be consumed by debt repayment, Treasury report says
Maureen Kinyanjui  |  Feb 19, 2025

Constitutional commissions such as the National Land Commission, the Salaries and Remuneration Commission, and the Commission on Revenue Allocation wi...

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