Massive public looting threatens Kenya's economic growth, stability

Kenya's local borrowing is almost Sh2trilion. The economy growth rate has slowed from 5.9 per cent to 5.6 percent for 2017

 

It captured the attention of many people, spoiling the mainstream media with choice on the approach to ace the story.

The discussion on how best to deal with the monster of corruption and in the words of former Chief Justice Dr Willy Mutunga a “bandit economy”, should not at all be pegged on political gimmicks, not even a wink.

A Kenyan people, has a role to play in the termination of the flourishing graft.

The arrest and extradition of the Akasha brothers to the United States hinted a new view in the fight against drug traffickers, who are in a way running the country.

Media reports indicated that the two brothers have been making attempts to bribe the Kenyan authorities to a tune of Sh4 million to end the case “here at home”.

The plan splashed out when sleuths from the US pounced on them for prosecution. This has cascaded to a political hostility, and is now turning to be an ugly vote hunting caucus.

No one would need a projector to see the level of rot and improbity in the management of public funds.

Chickengate scandal

On Wednesday when the former Chief Executive Officer of the defunct Interim Independence Electoral Commission (IIEC) James Oswago was arrested and later released by a court on bond, it reminded the nation of the Sh46 million kickback that him and others within the commission swindled the funds, and then later retired from the public sector.

A painful additional stitch on the wounded economy was sewed by members of parliament yesterday when they confined Treasury Cabinet Secretary Henry Rotich and demanded for a whooping Sh3 billion, in addition to a gratuity.

They want this sorted out as a send home pack for the eight months they will not be in office, starting August this year.

In a meeting where they locked out the media, they turned guns to the Sarah Serem’s Salaries and Remuneration Commission to honor the non-negotiable directive, failure to which they vowed to pull down the 2017/2018 budget. Kenyan MPs are among the highest paid people in the world.

NYS scam

In what seemed a fault in the recently deployed procurement system Integrated Financial Management Information System (IFMIS), the Treasury lost over Sh1.8 billion in a scheme by allies of the president at the National Youth Service (NYS).

The news of mischievous transactions broke out when the former Devolution Cabinet Secretary Anne Waiguru blatantly sounded an alarm over the disappearance of the cash.

In her submission to the Parliamentary Accounts Committee, Waiguru denied knowing a businesswoman Josephine Kabura, who is a key suspect in the saga.

Goldenberg looting spree

In 2006, following after an investigation under the Kibaki government, a report by Justice Bosire recommended that the then Education Minister at that time, the late Prof. George Saitoti should face criminal charges for his actions.

Equally, former President Daniel arap Moi was slated for an investigation. No report has been given so far.

The report said that records presented at the inquiry showed that Lima Ltd, which is associated with Gideon Moi, Nicholas Biwott, and two other people, received Sh6.3 million from Goldenberg International.

The report also indicates that Sh158.3 billion of Goldenberg money was transacted with 487 companies and individuals.

A list of exhibits compiled by the commission puts Goldenberg International Ltd at the top of the primary recipients of the money, at Sh35.3 billion.

The directors of Goldenberg were Kamlesh Pattni and Kanyotu. Despite Kanyotu being the director of the Special Branch (intelligence unit of the Kenya Police, now the National Intelligence Services, NIS) and a director of First American Bank, he described himself as a farmer in Goldenberg documents.

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