Wiper Party spokesperson and lawyer Ndegwa Njiru has called for greater public scrutiny of Kenya’s borrowing, saying citizens have a right to know how much the country owes commercial banks and international lenders, how the money is being spent and the plan for repaying the growing debt.
Speaking on Radio Generation on Wednesday, Njiru said transparency and accountability must guide the management of public finances, arguing that Kenyans should have access to clear information on the country’s domestic and external debt obligations.
“What is ailing us today is the question of accountability. We don't know how much Kenya owes the local banks from the domestic borrowing. We don't know how much Kenya owes international financiers. We don't know who audits our books of debts,” Njiru said.
His remarks come as Kenya’s public debt continues to rise, with Treasury data showing that the total public debt stood at about Sh12.32 trillion in March 2026, equivalent to 65.7 per cent of the country’s GDP.
Domestic debt accounted for Sh6.78 trillion, or 55 per cent of the total debt, while external debt stood at Sh5.54 trillion, representing the remaining 45 per cent.
The latest detailed Treasury debt dashboard shows that domestic debt had reached Sh6.84 trillion by December 2025.
Treasury bonds made up the largest share of the domestic debt at Sh5.58 trillion, while Treasury bills stood at Sh780 billion.
Commercial banks were the biggest holders of domestic government debt, with their holdings standing at Sh2.32 trillion, equivalent to 33.9 per cent of the total domestic debt.
It is this link between government borrowing and commercial banks that Njiru wants subjected to greater public scrutiny.
“This debt does not belong to the Minister or to the Governor of the Central Bank. It belongs to Kenyans. If then we are speaking about Article 10, which I told you is a point of departure as a Patriotic Front and the repair of the new republic, is that Article 10 speaks about transparency.”
Njiru said Kenyans should be able to establish how much the government borrows from individual commercial banks and understand the effect of such borrowing on the wider economy.
He questioned whether citizens have sufficient information on the amounts owed to major banks such as KCB, Equity Bank and Cooperative Bank, arguing that more disclosure would strengthen accountability in the management of public debt.
Kenya’s external debt also remains high, with the Treasury’s Public Debt Management Office putting the external public debt at Sh5.46 trillion at the end of December 2025, equivalent to about US$42.34 billion.
Multilateral lenders accounted for 55.5 per cent of the external debt, followed by bilateral creditors at 35 per cent and commercial creditors at 8.1 per cent.
China was the largest bilateral creditor, with Sh628.7 billion outstanding at the time.
The growing debt has also increased the amount of money the government needs to set aside for debt repayment, putting pressure on public finances.
Treasury projected total debt service at Sh2.07 trillion for the 2025/26 financial year, including about Sh1.13 trillion in interest payments.
Domestic interest payments were projected at Sh851.4 billion, while external interest was estimated at Sh278 billion.
The pressure from domestic borrowing was also reflected in the previous financial year, when the Treasury’s debt management office reported that domestic debt service totalled about Sh1.09 trillion during the 2024/25 financial year.
Treasury bond interest alone accounted for Sh847.3 billion of that amount.
Njiru questioned whether the current approach to raising revenue places too much pressure on taxpayers, calling for alternative ways of generating money to help the country meet its debt obligations.
“When you look at the question of our debts, both domestic debts and international debts, and then you ask yourself, what is the strategy of paying these debts? Is it overtaxing its people to repay the debt, or can we define and redefine ourselves and come up with a system which can supplement the people's responsibility of paying these debts?” he said.
The Wiper official said Kenyans should continue meeting their tax obligations, but argued that the burden should be shared fairly across the population.
He also proposed greater use of the country’s natural resources as another source of government revenue, saying mineral resources could generate additional income and reduce pressure on taxpayers while helping the government finance its debt.
Njiru further questioned whether Kenya has fully established the extent and value of its natural resources, saying such information could help the country consider other ways of raising revenue and managing its debt burden.
His comments come as Treasury expects the country’s public debt stock to continue increasing in the medium term.
The 2026 Budget Policy Statement projects gross public debt at Sh13.98 trillion in the 2026/27 financial year, with domestic debt expected to account for about Sh8.21 trillion and external debt Sh5.78 trillion.
Njiru’s call for greater disclosure therefore puts the focus not only on the size of Kenya’s debt, but also on who is lending the government money, how the funds are being used, who audits the debt records and how future repayments will be financed.