The University of Nairobi (UoN), Kenya’s oldest and largest institution of higher learning, has been declared technically insolvent by the Office of the Auditor-General. An explosive audit report has revealed a deepening financial crisis that threatens the university’s ability to sustain operations, highlighting an estimated KSh 20 billion debt burden encompassing accumulated deficits, unremitted statutory deductions, and mounting pension arrears.
Negative Working Capital and Mounting Deficits
The declaration of insolvency stems from the Auditor-General’s review of the university’s financial statements for the 2021/2022 fiscal year, which was formally presented to the National Assembly Education Committee on Thursday, October 22, 2026….