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Originally published by Capital News
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December 8, 2025
2h ago

Nyoro denounces Ruto’s ‘opaque’ fiscal plan, says Safaricom sale raw deal

Nyoro denounces Ruto’s ‘opaque’ fiscal plan, says Safaricom sale raw deal

Kiharu MP Ndindi Nyoro warns Kenya is sliding into opaque fiscal practices, citing off-budget borrowing and a lack of transparency in the Safaricom stake sale...

✨ Key Highlights

Kiharu MP Ndindi Nyoro has heavily criticized Kenya's National Treasury for what he terms "opaque fiscal practices" and "off-budget borrowing," warning of a potential debt crisis similar to Senegal.

  • Nyoro alleges the government has already borrowed KSh 175 billion outside the approved budget, mortgaging future fuel levy collections for 15 years.
  • He criticized the proposed sale of a 15 percent stake in Safaricom PLC, claiming the process lacks transparency and undervalues the company, which he cited has a past valuation of KSh 1.8 trillion.
  • Nyoro warned against the government's increasing reliance on securitisation, pledging future revenues from sources like the Sports Fund (KSh 44.5 billion) and the Housing levy, which he claims circumvents parliamentary oversight.

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