John Mbadi Promises Annual Debt Transparency to Tackle Kenya's Ballooning Ksh.10.5 Trillion Liability

To address Kenya’s soaring national debt, Treasury Cabinet Secretary nominee John Mbadi has proposed the annual publication of the country's debt records. This move, he argues, will provide much-needed transparency and enable better management of the nation's staggering Ksh.10.5 trillion debt.

Speaking before the National Assembly's Committee on Appointments during his vetting on Saturday, Mbadi expressed concern over the lack of public access to detailed information about Kenya's debt obligations. He noted that while Kenyans are aware of the overall debt figure, the specifics of the loans, including the lenders' and the cash advances' terms, remain largely unknown.

“If you listen to the discussion around debt, Kenyans seem to be asking what our actual level of debt is. Is it Ksh.10.5 trillion? The answer could be yes, but Kenyans want proof and evidence,” Mbadi said, emphasizing the need for greater transparency. “If Kenyans owe people money, why can't they know who they owe, how much they owe them, and the level of interest for each loan?”

Treasury Cabinet Secretary nominee John Mbadi

Mbadi’s remarks were in response to a question from Deputy Speaker Gladys Boss, who pressed him on how he plans to ensure sustainable debt management if his nomination is confirmed. The former Nominated MP suggested that making a debt register a statutory document, published annually, would help the public understand and hold accountable those responsible for managing the country's finances.

“One of the things that we need to do is to make a debt register a statutory document, which should be published every year like we publish all the other documents,” Mbadi proposed. “It is not the government that owes money to China, the World Bank, or the IMF; it is Kenyan taxpayers. You cannot owe money to someone without knowing how much you owe them.”

Mbadi's push for transparency reflects a growing demand among Kenyans for clarity on the nation's financial obligations, as the public seeks to better understand the implications of the country's escalating debt burden.