K
Originally published by Kenyans
📰 Read Full Article
top
December 2, 2025
2h ago

Ruto Announces Ambitious Plan to End Foreign Borrowing Using NSSF Savings

Ruto Announces Ambitious Plan to End Foreign Borrowing Using NSSF Savings

The president revealed the plan aims to reduce Kenya’s reliance on external loans, particularly those from China, by utilising locally generated savings instead...

✨ Key Highlights

President William Ruto announced an ambitious plan to eliminate Kenya's reliance on foreign borrowing for development projects within 10 to 20 years, shifting instead to funding through increased domestic savings from the National Social Security Fund (NSSF).

  • The government aims to significantly increase NSSF savings from Ksh320 billion in December 2022 to Ksh670 billion by the end of the current month, and projected Ksh1 trillion by June 2027.
  • President Ruto stated this strategy is why NSSF contributions were increased, a move facilitated by ending a protracted legal battle with COTU Secretary General Francis Atwoli upon his election.
  • The new NSSF contribution model, revised for 2025, mandates both employees and employers contribute 6 per cent of pensionable earnings, capped at Ksh4,320 per month for each party.

Continue Reading

Read the complete article from Kenyans

📰 Read Full Article