Browsing: Kenya’s debt

debt obligations in Kenya

Mystery of Kenya’s rising debt obligations and never reducing loan

Industry and Trade
  • Kenya’s rising debt obligations have failed to reduce the debt that currently stands at about $82.2 billion.
  • Service costs went up from 58% after the government paid $2 billion Eurobond.
  • Sovereign bond-holders accounted for $6.6 billion of the external public debt stock.

The National Treasury has laid bare the pain awaiting Kenyans in repaying loans borrowed from external lenders and domestically. Fresh data tabled in Parliament reveals that taxpayers will dig deeper in their pockets in the next financial years to repay loan obligations.

Details show that for every $0.78) Sh100 the government collects, $0.53 (Sh68) goes to servicing the $82.2 billion (Sh10.6 trillion) debt pile reported as of June 30, 2024. The treasury revealed that the country’s debt stock increased by $2.3 billion (Sh303 billion) compared in the year ended June 2024 compared to a year ealier. Currently, Kenya’s debt stock is projected to hit $100.7 billion (Sh13 trillion) …

Supreme court judges

What investors can expect from Kenya’s new government

Countries

On Tuesday, August 9, 2022, Kenyans went into the polls to elect their leaders in respective seats, from the member of the county assembly (MCA) to the president.

  • The 2022 General Election in Kenya was held on Tuesday, August 9, with voters electing leaders of their choice in six respective seats from the MCA to the president
  • With the election over, a new government will take over from the Jubilee administration as President Uhuru Kenyatta is set to retire after serving two constitutional terms
  • Some of the issues the new government are expected to tackle include corruption, high cost of living, high unemployment rate and huge debt

The Independent Electoral and Boundaries Commission (IEBC) chairman, Wafula Chebukati, announced that United Democratic Alliance (UDA) presidential candidate William Ruto emerged as the winner of the highly contested presidential race.

Chebukati noted that Ruto garnered 7,176,141 votes (50.49 per cent) against his fierce…

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Kenya's economic growth

7 Things Kenya should do to address high levels of debt

Business

  • The government of Kenya to implement a raft of measures to address the current high debt levels in Kenya and the fiscal challenges the country continues to face

  • A high fiscal deficit because of higher expenditure than revenue collections is the primary driver of the increased borrowing

  • The government should channel efforts towards strengthening the Capital Markets structure to ease the pooling of funds by investors to undertake development projects

Economic analysts have urged the government of Kenya to implement a raft of measures to address the current high debt levels in Kenya and the fiscal challenges the country continues to face.

The analysts from Cytonn Investments said the government should work on strategies to reduce the economic consequences of high debt levels and increased risk of debt distress.

The analysts said they commend the government on the continuous efforts to boost revenue collection but believe a lot needs to …