Kenya Kwanza administration has allocated a budget of Sh7 trillion to pay off debt during its first term, starting from July 1. This highlights the significant debt burden inherited from previous administrations. According to revised estimates from the Treasury, the cumulative cost of debt payments will amount to Sh7.071 trillion from the fiscal year 2023/24 […]
The Controller of Budget (COB) Mrs. Margret Nyakango has flagged the National Treasury for Sh1.65 billion paid to secure future loans arguing that borrowings should now be cancelled to ease the burden of payment on taxpayers. The amount is paid as commitment fees charged on borrowers for credit that has not been advanced as a […]
The National Treasury is going for a Sh60 billion loan from local investors to fund infrastructure development after the country’s debt piled to Sh7.35 trillion in January this year, down from Sh7.28 trillion last December. The debt is still expected to pile further if the treasury succeeds to secure Sh262 billion from the International Monetary […]
