Moody's Ratings has warned that risks to Kenya's economic recovery are increasing due to challenges in fiscal consolidation, essential for potential ratings upgrades and more affordable borrowing.

• Kenya's credit rating is currently Caa1, indicating a high risk of default.
• The report highlights that Kenya Revenue Authority experienced a tax collection shortfall of Sh47.3 billion for the financial year 2024-2025.
• Moody's cites weak revenue performance, with tax revenue down to 14 per cent of GDP and a fiscal deficit of 5.7 per cent of GDP, limiting public service funding.