Ruto reveals public savings have doubled to Ksh600B
By Faith Lagat, June 27, 2025President William Ruto has revealed that Kenya’s public savings have almost doubled over the past three years, rising from Ksh320 billion in 2022 to Ksh600 billion by the end of 2025.
Speaking during the World MSME Day celebrations at the Kenyatta International Convention Centre (KICC) on June 27, 2025, the Head of State said the leap in national savings was part of a broader economic reform agenda under his administration aimed at stabilising the economy, reducing government borrowing, and empowering ordinary Kenyans.
“We have improved our public savings from Ksh. 320 billion in 2022 to Ksh. 600 billion before the end of this year,” said President Ruto. “This now allows us to lend using the savings and manage interest rates.”
He further urged commercial banks to be more customer-centric. “It shouldn’t be the role of government to lend money. That’s the responsibility of financial institutions. But our banks are stuck. You are making good profits—consider your customers. Let’s grow this sector deliberately.”
The president also cited a string of macroeconomic gains as evidence of progress. Inflation has dropped significantly from 9.6 per cent to 3.8 per cent, while the shilling has appreciated from Ksh165 to Ksh129 against major foreign currencies. Treasury bill interest rates have also declined from 15 per cent to 8.5 per cent, signalling improved investor confidence.
“I have worked on the economy, and I am very proud of what we have achieved,” said Ruto, crediting his government’s policy choices for the progress.
In a move to enhance transparency and support businesses, especially Micro, Small, and Medium Enterprises (MSMEs), the president announced the rollout of an e-procurement system for all government tenders starting July 1, 2025.
“All government tenders will now be available online through e-procurement to everyone who wants to participate,” he said, adding that the digital shift would eliminate gatekeeping and broaden access.
The president’s remarks come at a time when the financial sector is under pressure to align with national development priorities. By increasing domestic savings and shifting procurement online, the administration aims to build a more inclusive, accountable, and self-reliant economy.
“We are laying a strong foundation for the future. The growth of MSMEs, fair lending practices, and reduced reliance on expensive debt are all part of that vision,” Ruto concluded.