Kenya has lost approximately Sh2.3 trillion over the past three years alone, governance expert Fred Ogolla has claimed.
Ogolla attributed the losses to unchecked corruption, weak institutions, and a lack of political will to enforce accountability.
Speaking at the Senate gate in Nairobi on Thursday, Ogolla claimed that the figures are based on data from the Central Bank of Kenya (CBK), supported by audited financial statements and reports from the Office of the Auditor General.
Ogolla had led a section of Kenyans under Operation Linda Jamii leaders to file a petition against corruption.
“According to Central Bank of Kenya data and verified audit reports, we have lost over Sh2.3 trillion in just three years,” Ogolla said.
“This is not an allegation. It is an economic fact. That money has disappeared from the public system.”
He warned that such losses, particularly over such a short period, are unsustainable and pose a significant threat to national development, service delivery, and public trust.
“The money lost could fund free education and healthcare for all Kenyans for several years. Instead, we are taking more loans, taxing citizens more, and delivering less,” he said.
Ogolla also provided a historical overview of funds lost to corruption since independence. He estimates that Kenya has lost a total of Sh6.246 trillion across all administrations.
He also highlighted the issue of pending bills, which he described as “another form of corruption,” since they represent payments for goods and services that were budgeted for but never honoured.
According to Ogolla, the administrations of Jomo Kenyatta, Daniel Moi, and Mwai Kibaki exited without significant pending bills.
He claimed that Uhuru Kenyatta’s government left behind Sh663 billion in unpaid bills, adding that within three years, the current government has already accumulated Sh665 billion in pending obligations.
“If you add both the direct graft and the pending bills, you’re looking at more than Sh6.2 trillion gone. That’s enough to run this country for three years without collecting a single cent in taxes,” he said.
He urged leaders to not only acknowledge these losses but also implement meaningful recovery mechanisms, including asset recovery and structural reforms in public finance management.
“Kenyans are suffering while the elite continue to thrive on public money. This is an economic and moral crisis. If nothing changes, we are headed into deeper collapse,” Ogolla concluded.
