Assessing Kenya's Debt Situation

In this episode recorded on March 19, 2026, and hosted by Ramah Nyang, we unpack Kenya’s debt situation.Our panelists:* Churchill Ogutu - Economist, IC Group* Benard Njiri - Senior Research Analyst, IPF* Stellar Swakei - Senior Research Analyst, Kingdom SecuritiesSubscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:01:33 The Debt Transparency Problem and Why Fiscal Consolidation Fails00:09:17 Securitization, Supplier Debt, And Pending Bills00:23:19 IMF’s Pushback against Securitization and Lessons from Ghana00:26:44 Ringfencing and Revenues/Proceeds Disclosure00:32:02 Securitization Lessons from 2008 Financial Crisis00:40:20 Auditing Kenya’s Debt00:46:22 Tanzania’s Debt Transparency Model00:51:56 Why Governments Avoid Transparency?00:56:42 Tanzania’s Single Treasury Account00:58:24 The Transparency Risk Premium01:01:24 Policy Changes to Enhance Debt Transparency Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe