Kenya's Sh455b borrowing spree and cost of graft

Treasury CS John Mbadi during an Electronic Government Procurement (e-GP) stakeholders’ meeting. [Wilberforce Okwiri, Standard]

Kenya’s insatiable appetite for debt continued to grow last year as it emerged as the largest sovereign borrower in the region, according to a new World Bank report.

This is even as separate findings by the multilateral lender showed that corruption has been fueling the country’s high budget deficits and pushing up borrowing costs by making lenders view the country as high risk.