# Assessing Kenya's Debt Situation

An episode of [The Mwango Capital Podcast](https://invisiblenetwork.ai/podcast/1583367792), 9 Apr 2026, 1 h 05 min.

Audio: https://api.substack.com/feed/podcast/193546539/e076cbed8855673bf30d679103f2dc76.mp3

In this episode recorded on March 19, 2026, and hosted by Ramah Nyang, we unpack Kenya’s debt situation. Our panelists: * Churchill Ogutu - Economist, IC Group * Benard Njiri - Senior Research Analyst, IPF * Stellar Swakei - Senior Research Analyst, Kingdom Securities Subscribe to get notified when we make a new post. Show Notes 00:00:00 Introduction 00:01:33 The Debt Transparency Problem and Why Fiscal Consolidation Fails 00:09:17 Securitization, Supplier Debt, And Pending Bills 00:23:19 IMF’s Pushback against Securitization and Lessons from Ghana 00:26:44 Ringfencing and Revenues/Proceeds Disclosure 00:32:02 Securitization Lessons from 2008 Financial Crisis 00:40:20 Auditing Kenya’s Debt 00:46:22 Tanzania’s Debt Transparency Model 00:51:56 Why Governments Avoid Transparency? 00:56:42 Tanzania’s Single Treasury Account 00:58:24 The Transparency Risk Premium 01:01:24 Policy Changes to Enhance Debt Transparency Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

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