Boost agriculture, tourism productivity to reduce Kenya’s unproductive debt

As at June 2018, Kenya`s main foreign lenders included commercial banks, China and World Bank at 33 per cent, 22 per cent and 20 per cent respectively. Interestingly, Kenya owes its foreign debt to more than 20 countries and institutions.

In 2013, Kenya’s domestic debt was 54 per cent against 46 per cent external debt. This has since changed. In February 2019, domestic to external debt tied at 50 per cent but will definitely change with Euro bond three and the refinancing of the syndicated loan. During the same period Kenya’s debt stood at Sh5.3 trillion increasing at a compounded annual growth rate (CAGR) of 24 per cent since 2013 and an absolute growth of 191 per cent.