Treasury Unveils New System to Improve Public Debt Reporting

The National Treasury has announced the rollout of a new digital system aimed at strengthening the management and reporting of public debt.

 In an update on Wednesday, July 29, Treasury Principal Secretary Chris Kiptoo said the National Treasury is rolling out a Debt Data Warehouse that will integrate debt information currently held across multiple systems into one secure platform.

"The National Treasury is implementing a Debt Data Warehouse to consolidate debt information from multiple systems and sources into a secure, centralised platform," he wrote 

Kiptoo explained that the new platform will automate several processes that have traditionally relied on manual input, helping to eliminate duplicate records, reduce errors, and improve the quality and speed of public debt reporting. 

"This will reduce manual processes, eliminate duplication, minimise errors, and enhance the speed, accuracy and reliability of debt reporting. This reform will also enhance transparency in public debt reporting," he added.

Kiptoo further noted that the Treasury's long-term objective is to build a more efficient institution capable of delivering services faster while supporting evidence-based policy decisions through dependable data.

"Our focus remains on building a modern National Treasury that delivers services more efficiently, supports faster, better-informed decision-making, and is driven by accurate, reliable, and timely data," he further said.

This comes weeks after National Treasury dismissed reports that the government plans to borrow savings from Savings and Credit Cooperative Organisations (SACCOs) to fund the National Infrastructure Fund.

In a statement on Monday, July 6, Treasury flagged a viral social media post as fake after it alleged that Cabinet Secretary John Mbadi had planned to borrow Ksh1trillion from SACCOs to fund key development and infrastructure projects.

The doctored graphic further alleged that the initiative had its legal basis on the Cooperatives Bill, which was in Parliament.

The Treasury made it clear that CS Mbadi had not made any statement about SACCO savings and accused the creators of the graphic of malice.

"We wish to clarify that the information circulating on social media regarding the Government borrowing SACCO savings for the National Infrastructure Fund is entirely fake and malicious.

"Cabinet Secretary Hon. FCPA John Mbadi has made no such statement. The public is advised to ignore this fabricated graphic and rely only on official communication channels for accurate updates," the statement read in part.

Mbadi issued a subsequent statement distancing himself from the post, claiming that the allegation was made to damage the reputation of the government and cause anxiety.

"Fellow Kenyans, my attention has been drawn to some false information doing rounds, claiming that the Government of Kenya intends to borrow money from SACCOs to fund projects through NIF.

"It's maliciously choreographed to misinform the public, taint government and elicit public uproar. Treat it as fake!" the CS wrote.