Former Chief Justice David Maraga has sounded the alarm over Kenya’s economic state, warning that reckless borrowing, government waste, and soaring interest rates are pushing Small and Medium-sized Enterprises (SMEs) to the brink of collapse.
Speaking on Thursday, Maraga outlined a vision that prioritises halting new borrowing, restructuring public debt, enforcing accountability in counties, and appointing competent leaders.
He also raised concerns over the political climate, saying violence in recent by-elections points to a dangerous trend that could destabilise the country ahead of 2027.
“To prepare a manifesto, you need to know what people require,” Maraga said, explaining that his economic plans are based on direct consultations with Kenyans. He has been conducting town halls and meeting professionals, farmers, pastoralists, and community leaders across the country. From Northern Kenya to tea-growing regions, citizens have shared their challenges and proposed practical solutions, he said.
Maraga believes the revival of Kenya’s economy depends heavily on strengthening county governments.
“The growth of a nation like Kenya is dependent on the growth of the county governments,” he said. He stressed that devolved funds must be used strictly for their intended projects, adding that governors should be held accountable. Citing counties capable of generating significant own-source revenue, he said Nairobi should achieve self-reliance if it implements strong revenue systems.
At the national level, Maraga vowed to enforce strict fiscal discipline and eliminate waste. “There is a lot of waste in government,” he said, pointing to overpriced procurement and the misallocation of funds. He added that his administration would have zero tolerance for corruption. “If there are corruption scandals against you, I will ask you to step aside as we investigate,” he said.
Central to his economic policy is stopping new borrowing. Maraga said public debt has ballooned because loans have been used for recurrent spending rather than development.
He stressed that the country must reduce wastage and restructure existing debt to free up resources for investment. He also called for a full audit of public debt and the development of a restructuring plan modeled on other countries that successfully recovered financially.
Maraga painted a grim picture of the business environment, saying high interest rates and government competition for credit have devastated SMEs.
“SMEs are almost crumbling,” he said. He noted that banks prefer lending to the government because it is safer, leaving entrepreneurs without affordable financing. “You go to shopping centres, you can’t see any economic activity,” he added.
Linking economic distress to political instability, Maraga warned that by-election violence is a troubling sign.
“Huge sums of money were spent, there was even violence,” he said, accusing the Independent Electoral and Boundaries Commission of failing to act. He said some voters stayed away due to intimidation. According to him, these elections were neither free nor fair and show a government willing to cling to power through threats. “This is a warning,” he said. “Unless we are vigilant, Ruto’s regime is going to visit Kenyans with violence.”
On governance, Maraga said his leadership team would be chosen strictly based on competence, integrity, and accountability. Cabinet and civil service appointments would reflect professionalism and service to the public rather than political loyalty. “The appointments, will be by competence,” he said.
Ultimately, Maraga promised a governance model focused on citizens’ needs, fiscal discipline, and meaningful development. Expressing confidence in the public’s desire for change, he said, “Kenyans want change.”
