Kenya

A Flurry of African Sovereign Debt News brings to you regular updates on events and happenings in Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

A Flurry of African Sovereign Debt News brings to you regular updates on events and happenings in Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The disclosures on Kenya's sovereign debt indebtedness so far indicate that there could very well be examples of hidden debt - particularly sovereign debt that may not be publicly or dully disclosed particularly to Parliament.  This together with Kenya's increasing indebtedness means that Kenya's Parliament and civil society groups like the African Sovereign Debt Justice Network and OKOA Uchumi must carefully scrutinize as well as the 2021 National Debt Management Strategy Paper and all the accompanying disclosures. Kenya's Parliamentary Budget Office has recently noted that increased interest payments on debt have reduced spending on development and recommended rescheduling of domestic debt.

This essay reviews the areas in which in which Kenya has strategically positioned itself to benefit for the AfCFTA. It briefly reviews the areas in which improvement will be required.

As the Covid-19 disrupts life as we know it globally and nationally, it will test to the core the ability of the state to defend its citizens from experiencing the most holistic crisis we have ever faced as a country. Kenya has lived through curfews, food shortages, economic difficulties but all at different stages and periods. With growth prospects reduced, lower than expected tax revenues, and Kenya’s debt to GDP levels is already in the doldrums.