Governance expert Fred Ogolla has sounded the alarm over massive financial losses in Kenya, claiming that the country has lost approximately Sh2.3 trillion in the past three years alone.
Speaking outside the Senate gate in Nairobi on Thursday, Ogolla said the figures are drawn from Central Bank of Kenya (CBK) data, as well as audited reports from the Office of the Auditor General. He led members of the Operation Linda Jamii movement in filing a petition against corruption.
“According to Central Bank data and verified audit reports, we have lost over Sh2.3 trillion in just three years. This is not an allegation. It is an economic fact. That money has disappeared from the public system,” Ogolla said.
He warned that the magnitude of the losses is unsustainable, undermining national development, service delivery, and public trust.
Ogolla argued that the missing funds could have financed free education and healthcare for all Kenyans, yet the government continues to rely on loans and higher taxes while delivering fewer services.
Beyond the recent losses, Ogolla traced corruption since independence, estimating that Kenya has lost over Sh6.246 trillion across all administrations. He singled out pending bills as another form of graft, noting that Jomo Kenyatta, Daniel Moi, and Mwai Kibaki left office without significant unpaid obligations.
In contrast, he said Uhuru Kenyatta’s government exited with Sh663 billion in pending bills, while the current administration has already accumulated Sh665 billion within three years.
“If you add both direct graft and 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 explained.
Ogolla urged leaders to prioritize asset recovery and implement structural reforms in public finance management to curb further losses.
“Kenyans are suffering while the elite thrive on public money. This is both an economic and moral crisis. If nothing changes, we are headed for deeper collapse,” he concluded.
