Kenyan Counties' Finances: A CPA Reveals Hidden Debt Truths

Kenyan Counties and Debt: A CPA's Perspective Nairobi, Kenya – May 14, 2025 – A recent interview on Spice FM with CPA Benedict Omollo has brought to light the intricacies of county-level debt management in Kenya. Omollo explained that the common practice isn't large-scale debt accumulation, but rather salary agreements with banks. However, he highlighted a crucial point: any county aiming to secure a debt instrument needs the green light from the national assembly. This process, he argued, needs revisiting during the current constitutional review. "Counties rarely get into debt. Most only have salary arrangements with banks, but to get a debt instrument, you need approval of the national assembly," Omollo stated. He emphasized the need for greater transparency and accountability in county finances. The interview also touched upon the upcoming budget processes and the role of public participation in ensuring fiscal responsibility. Omollo's insights offer a valuable perspective on the financial health of Kenya's counties and the importance of constitutional reform to improve financial oversight. The discussion underscores the need for greater transparency and public engagement in county-level financial decisions.