NAIROBI, Kenya — Kiharu MP Ndindi Nyoro is once again ringing the alarm bells on Kenya’s growing debt crisis—and this time, he’s doubling down.
In a country staring at a ballooning Sh11 trillion public debt, the outspoken legislator is urging the government to shift gears and look inward for solutions, instead of signing up for more IOUs.
Speaking Thursday in Kiharu and during a separate graduation event for 1,200 youth trained under the NGCDF program, Nyoro called on the Kenya Kwanza administration to halt its borrowing binge and explore domestic revenue alternatives—including monetizing government-owned assets like Safaricom.
The Cost of Borrowing: A Warning for the Future
Nyoro didn’t mince words. According to him, Kenya is already knee-deep in a debt hole, and unless the borrowing is reined in, the future generation will be left footing an impossible bill.
“Let us look for other ways that we can raise resources for the country,” he said. “If we continue on this borrowing spree, the burden will be unbearable. The effects will be catastrophic.”
The MP, who once chaired the powerful Budget and Appropriations Committee, warned that the country is on the edge of joining Africa’s debt defaulters club.
During the Institute of Public Finance annual review, he pointed out that Kenya could be forced to fork out up to Sh1 trillion in the next financial year for debt repayment alone—Sh750 billion to domestic lenders and Sh200 billion for external obligations.
Nyoro offered a solution that’s likely to spark debate in financial circles: sell a portion of state assets.
Specifically, he cited the government’s stake in Safaricom—valued at over Sh300 billion—as a potential goldmine that could ease the country’s fiscal strain without compromising influence.
“If we value an asset like Safaricom very well, the government can easily get the monies we’re borrowing externally,” he said. “And still continue influencing decisions at Safaricom through regulators.”
According to Nyoro, government shares in both private and public sector entities shouldn’t sit idle. “Assets exist to make money for the government; they don’t exist as jewels,” he emphasized.
Data from the Central Bank of Kenya (CBK) shows the national debt stood at Sh10.9 trillion by December 2024, with about 54 percent being domestic and 46 percent external.
The sharp rise from Sh2 trillion in 2013 to the current figure has many economists and legislators worried—and Nyoro appears to be leading the charge for fiscal reform.
Not Criticism, Just Concern
Despite the strong words, Nyoro was clear—this wasn’t a political attack, but a patriotic concern. “When a Kenyan raises an issue, it’s not necessarily to put people on their defense.
It’s raising concerns to those making decisions in the government,” he said.
He’s been consistent, too. “These are things I kept talking about even in my former position. If you check the Hansard, you’ll confirm this.”
Nyoro believes the country’s problem isn’t a lack of funds, but a failure to optimize what it already owns. “We must be prudent with the management of our debt,” he said. “There is a better way we can manage our public resources without adding to Kenyans’ huge debt.”
Conclusion: Time for Tough Choices
With global lending conditions tightening and Kenya’s economic room to maneuver shrinking, Nyoro’s message is clear: borrowing is not a bottomless well.
If the country is to avoid an economic meltdown, it must explore alternative paths—ones that don’t leave the next generation buried under the weight of today’s decisions.
And in his view, the first step is treating national assets not as ornaments, but as tools to build a sustainable future.
