Kenya’s outstanding debt to China has fallen 19 per cent from its 2021 peak following a landmark currency conversion agreement. This is even as the World Bank’s exposure has surged to nearly triple that amount, underscoring a dramatic reshaping of the country’s external creditor profile.

According to the National Treasury’s latest Public Debt Bulletin, China’s debt stock stood at Sh616.8 billion as of the end of June 2026, down from Sh764.2 billion in 2021. China now accounts for just 10.8 per cent of Kenya’s Sh5.685 trillion total external debt.