The Senate Standing Committee on Finance and Budget has demanded full transparency from the National Treasury regarding the country’s escalating national debt.

During a session held on Thursday, March 12, 2026, the lawmakers issued a 60-day ultimatum for the Treasury to provide a comprehensive breakdown of the legal and contractual risks associated with billions in government loans.

“Concluding the deliberations, the Committee issued a 60-day ultimatum to the National Treasury to submit a detailed report covering the full risk profiles, contractual agreements, and fiscal implications of all structured financial instruments,” Part of the Parliament of Kenya statement read.

The committee, led by Mandera Senator Ali Roba, expressed grave concern that the National Treasury has failed to provide required debt information for four years, a lapse they characterized as a violation of the law.

While the country’s total debt hit 12.2 trillion shillings by December 2025, Senators emphasized that they have been operating without a “bird’s eye view” of the specific agreements governing these funds.

“Senators highlighted that while the country’s total debt reached 12.2 trillion shillings by December 2025, there remains a pressing need for the Senate to have a bird’s eye view of the legal and contractual risks embedded in these multi-billion shilling agreements,” the Parliament of Kenya statement read.

Urgent Need for Transparency

Led by Mandera Senator Ali Roba, the Committee decried the fact that this is the first time in four years the Senate is receiving such debt information, contrary to the law. Members underscored the urgent need for transparency regarding the legal frameworks governing these loans.

“This is the first time in four years that we are receiving information on the debt position contrary to the law. For me, the numbers are not alarming if you look at the economic performance of other countries. However, the National Treasury should submit this information so that we can safeguard the fiscal space for future generations,” Senator Ali Roba submitted.

The senators pushed for a total disclosure on market instruments, insisting that all guaranteed obligations must be formally recognized as contingent liabilities to prevent a hidden debt crisis.

“The National Treasury should provide the Senate with total disclosure of these contractual agreements and legal frameworks so that we can have a bird’s eye view of the situation at hand,” Senator Eddy Oketch, a member of the Committee, added.

Rising Domestic Debt

The Committee expressed deep concern over the rising domestic debt, which increased by 1.747 trillion shillings, and the heavy reliance on expensive commercial borrowing.

To address these high costs, the Senate suggested exploring strategies for loan renegotiations and buybacks to reduce the interest burden on the Kenyan taxpayer.

Kisii Senator Richard Onyonka challenged the Treasury to explain why the government has been securing commercial loans at interest rates as high as 14%

“I wish that the National Treasury could tell us why they borrowed some loans at 14% while the African Development Bank’s rate is usually three to four percent. We need to renegotiate these same loans at lower interest rates,” Senator Onyonka counselled.