Starehe MP Mwago questions whereabouts of billions unaccounted for in domestic bond proceeds
By Kiprono Keileb, December 6, 2025Starehe MP Amos Mwago has raised sharp concerns over what he describes as a troubling gap in Kenya’s domestic borrowing records, demanding clarity on the whereabouts of money he says cannot be traced in official accounts.
In a statement posted on X on Saturday, December 6, 2025, Mwago said audit reviews covering government domestic bond proceeds between 2017 and 2023 pointed to a worrying inconsistency in what was raised versus what was deposited into the Consolidated Fund.
The MP said the government mobilised close to Ksh 2.97 trillion through domestic bonds during the six-year period. However, records captured only Ksh 2.67 trillion as having reached the Consolidated Fund that was between 2017 and 2023, according to him.
“Between 2017 and 2023, the government raised about KSh 2.97 trillion in domestic bonds; of that, KSh 2.67 trillion was recorded as deposited into the Consolidated Fund,” Mwago said.
He said this left what he termed a troubling, unexplained shortfall, saying the final destination of the funds was not tracked.
“That leaves a gap of roughly KSh 300 billion, funds for which the audit trail failed to trace the final destination,” the Starehe legislator added.
Mwago questioned how such a substantial sum of money could simply vanish without a coherent or transparent explanation, expressing disbelief that no one had been held accountable. He criticised unnamed officials for what he described as blatant mishandling of public funds, arguing that the silence and lack of clarity surrounding the issue only deepen public suspicion and undermine trust in the institutions responsible for safeguarding taxpayers’ money.
“The big question: where is KSh 300B? Everything is looted,” he said.
Mwago, who sits in Parliament’s Budget and Appropriations Committee, has previously criticised what he views as weak financial accountability mechanisms.
The MP urged investigative and oversight bodies to move swiftly, saying unanswered questions around public money only deepen mistrust between Kenyans and institutions responsible for safeguarding national resources.