Report exposes shame of broke public varsities sinking in debt

The University of Nairobi. [David Gichuru, Standard]

New details have revealed the dire financial state of public universities, with fresh data showing that more than half of the institutions are broke.

The data tabled in Parliament shows that 23 of the 40 universities are on the verge of collapse from heavy debts, with total debt burden across all institutions now hitting a record Sh76 billion.

A document tabled before the National Assembly Committee on Education and seen by the Sunday Standard reveals that the University of Nairobi accounts for the lion's share of the debt of Sh18 billion.