How did Kenya’s debt spiral so far out of control that 60% of government revenue now goes to debt service, and how did the constitutional safeguards designed to prevent exactly this get steadily bypassed?

In this episode of Sera na Sauti, Cheptum Toroitich sits down with economist and policy analyst Kwame Owino to unpack how Kenya arrived at this crisis — and whether the country can still pull back from the brink.

The 2010 Constitution set out a clear vision for how public money should be managed: transparent borrowing, strict oversight, and citizen participation. But over the years, those protections have been steadily set aside. Parliament, entrusted with guarding the public purse, has instead enabled reckless borrowing, approving budgets, endorsing loans, and avoiding the hard conversations.

The consequences are now impossible to ignore: households crushed by the cost of living, strained public services in healthcare and education, and protests that signal Kenyans have reached the breaking point of how much they can be taxed. The harder question is whether there is still a credible way out.

Kwame trace how we got here, the uncomfortable choices Kenya now faces, and why, despite political resistance, restructuring may be the only viable option left.

📌 Key themes from the conversation:

✅ How Kenya’s debt crisis was built through political choices, weak oversight, and ignored constitutional safeguards✅ The promises of the 2010 Constitution on transparency, accountability, and public participation, and how they have been steadily undermined✅ Parliament’s failure to carry out its oversight role, and what that has meant for public finance✅ The human cost of the crisis, from strained public services to a rising cost of living✅ Why the protests signal more than frustration. They mark a tipping point on taxation, governance, and public trust✅ The uncomfortable debate on debt restructuring, and why avoiding it may leave Kenya with no way out

The crisis may feel inevitable now, but as Kwame argues, it is still the result of choices, and it can be undone by choices too. Whether the country charts a way out depends on how quickly leaders, institutions, and citizens confront the reality of where we stand, and whether there is the political courage to take the difficult, but necessary, way forward.

📚Reading Materials:

* If You Keep Doing … A new macroeconomic strategy for Kenya, now by Kwame Owino, Maureen Barasa, and Peter Doyle

* Two Immediate Monetary-Framework Imperatives for Mr. Mbadi by Kwame Owino, Maureen Barasa, Peter Doyle

* Tracing the Economics of White Elephants Using Kenya’s SGR and Nairobi Expressway by Kwame Owino

* Gen Z Collective Action on Taxation and Economic Policy by Leo Kipkogei Kemboi

* Is Kenya’s Tax System Efficient, Optimal, and Equitable? by Leo Kipkogei Kemboi

* The Case for More Effective Fiscal Rules in Kenya by Maureen Barasa

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