Hon. Makali Mulu Warns of Deepening Debt Crisis and Executive Overreach at Okoa Uchumi Report Launch
At the launch of the Okoa Uchumi report, Hon. Makali Mulu delivered a candid and hard-hitting speech on Kenya’s public debt crisis, transparency failures, and the growing influence of the Executive over Parliament. His remarks, marked by both frustration and urgency, painted a sobering picture of the country’s economic stewardship and the political forces undermining accountability.
Speaking on behalf of his party leader, Mulu began by acknowledging the importance of the report and the ongoing public discourse on debt management. He noted that Parliament had long engaged with related concerns but warned that deeper structural and governance issues continued to cripple effective oversight.
Mulu emphasized that Kenya actually has a robust legal framework for managing public debt, but said that critical gaps and weak implementation undermine its impact. He criticized the current practice where Parliament approves debt as a “lump sum deficit,” calling instead for specific, project-linked borrowing approvals that would compel legislators to scrutinize the purpose and value of each loan.
The Mwingi Central MP further lamented Parliament’s diminishing independence, describing it bluntly:
> “Parliament has been captured by the Executive. I don’t think that is a secret.”
He noted that oversight collapses when Parliament no longer operates freely, leaving Kenyans with laws that exist on paper but fail in practice.
Mulu also revisited past recommendations to establish an independent Debt Management Office, separate from the National Treasury. Currently, he argued, the debt office reports to the same Cabinet Secretary who authorizes borrowing—an arrangement he described as fundamentally flawed and incapable of offering objective, technical scrutiny.
On contingent liabilities, he raised alarm over the growing burden left by state corporations unable to service their debts, pointing to Kenya Airways as an example.
He questioned the logic of government taking over KQ’s debt while the airline simultaneously declares profits, calling for full transparency on how such decisions are made.
Mulu pressed for full public disclosure of Kenya’s debt portfolio, saying secrecy continues to cloud the true extent of borrowing.
> “I wish public debt was completely open so that every Kenyan knows how much the country has borrowed and how we plan to repay,” he said, stressing that irresponsible borrowing places an unfair burden on future generations.
Despite acknowledging Parliament’s shortcomings, Mulu urged collective responsibility and collaboration, arguing that the country can only escape its debt trap through transparency, reform, and strict adherence to economic discipline.
His frank assessment added weight to the Okoa Uchumi report’s findings, reinforcing concerns about opaque debt practices, weakened institutions, and political interference in economic governance.
As the report continues to spark national discussion, Mulu’s remarks have renewed calls for bold reforms to restore fiscal responsibility and protect Kenya’s economic future.
