Businessman Jimi Wanjigi has issued a stark warning over Kenya’s ballooning public debt, declaring that the country is “on financial life support” due to years of reckless borrowing and systemic mismanagement by successive regimes.
Speaking at a charged Bunge La Wananchi forum in Nairobi’s Jeevanjee Gardens, Wanjigi pulled no punches, accusing the government of mortgaging the country’s future while ignoring constitutional safeguards on fiscal prudence.
“Kenya is not just in debt—it’s drowning in it,” Wanjigi warned.
“Every child born today already carries a burden of over Ksh 140,000 in debt.”
Backed by a dossier of public finance figures, Wanjigi cited ballooning external debt, runaway recurrent expenditure, and what he called “tokenistic development” as evidence that public funds are being mismanaged.
He called for a national civic awakening, urging Kenyans to demand greater accountability, transparency, and reform.
Wanjigi referenced Article 201 of the Constitution, which prescribes the principles of public finance, including responsible financial management and equitable burden-sharing.
“What we see today is a betrayal of these values,” he said.
With public debt nearing Ksh 11 trillion, Kenya faces mounting pressure from international lenders, with debt servicing now consuming over 60% of ordinary revenue.
Analysts have warned that the country is edging toward a debt trap, risking fiscal sovereignty and future development.
“We must rise before we are sold off piecemeal to creditors,” Wanjigi thundered, calling for grassroots mobilization, policy reforms, and a fresh economic paradigm centered on productivity over borrowing.
His remarks come amid mounting pressure on President Ruto’s administration to rein in spending and restructure the country’s debt portfolio—while navigating a tightrope of public expectation and IMF loan conditionalities.
Wanjigi’s rallying cry may mark the beginning of an energized civic campaign—and a potential political recalibration ahead of the 2027 elections.
