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Public varsities’ debt grows 10pc to Sh76bn in a year
Kenya’s public universities are sinking deeper into debt, with unpaid bills and statutory deductions raising fresh fears over their financial sustainability.
Debt owed by public universities rose 10.4 percent during the period ended June 2024 to hit Sh76.1 billion, up from Sh68.9 billion the prior year, extending a trend observed over the past four years.
Fresh disclosures by Auditor General Nancy Gathungu indicate that by the end of the reporting period, the balance of payables constituted Sh10.96 billion in long-term liabilities and Sh68.4 billion in current liabilities.
