Kenyan commercial banks are significantly reducing lending to small businesses and households, opting instead to invest heavily in government securities amidst a worsening debt crisis. This shift indicates a move away from supporting the "hustler" economy President William Ruto has championed.

• Banks' total assets grew by 10.3 per cent to Sh8.35 trillion in 2025, with the majority of this growth attributed to the purchase of government debt.
• The primary entities involved are commercial banks and the Kenyan government (represented by President William Ruto's administration).
• This trend highlights how the government's significant borrowing is crowding out credit to the private sector, impacting entrepreneurs and families.