The Domestic Debt Scandal
Let’s discuss an open secret. Kenya’s elite has turned Kenya into their debtor. How? Well, Kenya borrows more locally than abroad.
Collectively, we owe, according to the Institute for Economic Affairs’ brilliant public debt counter KSh 6.7 trillion to Kenyan lenders, out of KSh 12.3 trillion total public debt. We owe foreigners KSh 5.6 trillion in comparison.








