President William Ruto has assured Kenyans that his administration is delivering major development projects without relying on external borrowing, citing markets, hotels, housing, roads, and education as key areas already under transformation.
Speaking yesterday, the Head of State revealed that the government had awarded contracts worth KSh600 billion for the construction of markets, hotels, and housing. He emphasized that all the funding was sourced locally.
“Today, we have issued contracts for markets, hotels, and housing worth KSh600 billion. Not borrowed money, our own resources. That entire housing program you see, not a single shilling has been borrowed,” President Ruto said.
On infrastructure, the President announced that all stalled road projects are being revived through innovative financial arrangements with Members of Parliament.
“Today, we are moving all stalled road contractors back to work. How? By working creatively with Members of Parliament—securitizing our revenues. We raised KSh175 billion, and are mobilizing another KSh120 billion. That’s KSh300 billion for roads without borrowing from IMF or World Bank. Our own resources. My friends, it is possible to transform this country in our lifetime,” he declared.
Turning to education, President Ruto said reforms in the sector are central to national transformation, pointing to the success stories of Korea, Singapore, and Malaysia.
“Transforming education is deliberate because it is the foundation of national transformation, as seen in Korea, Singapore, and Malaysia. That is why we raised the education budget from KSh540 billion in 2022 to KSh702 billion today, hired thousands of teachers, expanded TVETs, launched the Open University, and partnered with 2,800 companies to train our youth,” he said.
The President added that by 2027, Kenya aims to have two million students enrolled in technical training institutions, a move he said would power the country’s industrialization through STEM disciplines and the Africa Green Industrialization Initiative.
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