Political commentator Morara Kebaso has launched a scathing critique of the country’s financial system, describing it as deliberately structured to entrap citizens in a cycle of debt and poverty.

In a strongly worded statement shared via his official X account on Friday, July 18, 2025, Morara highlighted the stark contrast between Kenya’s credit interest rates and those in other African countries, particularly South Africa.

He noted that in Kenya, borrowing money through a bank-issued credit card attracts interest rates of between 36% and 40% per annum, compared to 11% to 20%in South Africa for similar credit services.

“If you borrow money in Kenya by spending from a bank credit card, you will pay a minimum of 36% to 40% per annum. If you borrow the same amount of money in South Africa by spending from a credit card, you will pay an 11% to 20% interest rate per annum. Hii ni nini? The financial system in Kenya is designed to make us fail. It is designed to create debt slaves that can never rescue themselves from poverty,” Morara stated.

Business loans

He also criticised the rising cost of business loans in the country, which averages 20% interest per year.

At the same time, most small- and medium-sized enterprises in Kenya earn profits ranging between 3% and 15%, making it nearly impossible for businesses to grow or stay afloat when relying on credit.

“Business loans in Kenya are now costing us an average of 20%. The net profit of a Kenyan business is ranging from 3% to 15%. The loan ends up making you poorer, not richer,” he wrote on X.

Political complacency

Beyond the financial issues, Morara turned his attention to what he described as Kenya’s political complacency.

He lamented that instead of addressing structural issues like economic injustice and corruption, many Kenyans continue to vote along tribal lines, support incompetent leaders, and normalise theft in public office.

“But the same same Kenyans are preparing to vote along tribal lines. Celebrating mediocrity; tolerating and rewarding theft,” he stated.

As economic pressure mounts in Kenya due to a high cost of living, increasing taxes, and limited access to affordable credit, Kebaso’s warning may resonate more widely, especially among the youth and small business owners who feel left behind by the system.