Government pledges to borrow from citizens

On 24th December 2023, President William Ruto promised a plan for the Kenyan government to commence borrowing from its citizens’ savings instead of depending on costly external loans.

Kenya is still steadily borrowing from to foreign entities.
Inasmuch as domestic debt composition in Kenya is higher than foreign debt composition, several concerns have been raised. The Central Bank restricts domestic debt access to banks, insurance companies, pension funds, and high-net-worth individuals, most of whom profit using the public’s own deposits and premiums. This entrenches wealth inequality and limits citizen investment in government securities. There is also a concern that interest earned on domestic debts is usually significantly higher than in foreign debts.

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This Promise Tracker is an independent civic-accountability tool designed to monitor and document the progress of public commitments made by the Government of Kenya. Information presented on this platform is compiled from publicly available sources including government publications, parliamentary records, policy documents, and credible media reports. The classifications used in this tracker represent an evidence-based assessment by the platform’s researchers and should be understood as analytical judgments rather than official government determinations. While every effort is made to ensure accuracy and regular updates, the status of promises may evolve as new information becomes available. This website is not affiliated with or operated by the Government of Kenya.

Last updated: March 4, 2026 8:08 am