The National Treasury is set to enhance transparency in managing Kenya’s domestic debt by establishing a new administrative position and centralising debt data.
Registrar of National Government Securities
Principal Secretary Chris Kiptoo announced that recruitment is underway for a Registrar of national government securities. This role will oversee the management and reporting of domestic debt, which stood at Sh7.4 trillion as of July 24, 2026, representing 82.3% of total government borrowing.
Current Debt Composition
Kenya’s domestic debt comprises Treasury Bills (short-term instruments) and Treasury Bonds (long-term instruments), valued at Sh1.14 trillion and Sh6.09 trillion respectively as of July 2026.
Improving Debt Data Management
The move follows a petition from civil society groups highlighting issues with the complexity and inaccessibility of national debt information. In response, the Treasury is implementing a Debt Data Warehouse to consolidate data from multiple sources into a secure, centralised platform. This system aims to reduce errors, eliminate duplication, and improve the accuracy and speed of debt reporting.
Debt Levels and Fiscal Measures
Kenya’s total debt stock reached Sh12.82 trillion in June 2026, with domestic borrowing planned at Sh987.4 billion for the current financial year to fund a Sh4.82 trillion budget. This borrowing level is above the legal debt ceiling of 55% of GDP, currently at 69.4%, as stipulated by the 2023 Public Finance Management Act amendment. The Treasury is implementing a fiscal consolidation programme to reduce the deficit and shift towards longer-term borrowing to mitigate refinancing risks.
Outlook
- Operationalisation of the Registrar position to improve oversight
- Deployment of the Debt Data Warehouse for streamlined reporting
- Efforts to align debt levels with statutory limits within five years
