Clash looms as lawmakers want a say over on-lent loans

A committee of the Kenyan National Assembly wants all proposed write-offs or restructuring of on-lent loans to be approved by Parliament, a shift that looks set to spark supremacy wars. Currently, the Treasury only seeks Cabinet approval. At least 29 state-owned entities have applied for write-offs of about Sh28.55 billion in loans after years of defaults. Lawmakers aim to address moral hazard and hold defaulting agencies accountable.