Domestic loans now dominate Kenya's Sh12 trillion public debt

Fresh data from the National Treasury’s Debt Management Office shows that total public and publicly guaranteed debt stood at 67.3 per cent of GDP. [File, Standard]

Kenya’s public debt rose to Sh12.05 trillion by the end of September 2025, heightening concerns over the country’s debt sustainability and its growing reliance on domestic borrowing.

Fresh data from the National Treasury’s Debt Management Office shows that total public and publicly guaranteed debt stood at 67.3 per cent of GDP, equivalent to $93.27 billion. Of this, domestic debt accounted for 55.3 per cent (Sh6.66 trillion) while external debt made up 44.7 per cent (Sh5.39 trillion).