Kenya has signed a five –year €4.5 billion loans and grants deal with the European Union (EU), adding to the country’s debt to Sh 5.146 trillion.
This is an increase from previous five-year deal of € 3 billion (Sh346 billion).
The agreement was signed between Treasury Cabinet secretary Henry Rotich and EU ambassador to Kenya Stefano Dejak.
The £4.5 billion includes indicative financial commitment of the EU (€504.4 million), the European Investment Bank (€500.75 million), Denmark (€1.412 billion) and Finland (€33.7 million).
Others will be Germany (€638 million), Italy (€144.4 million), Ireland (€5.5 million), Slovak Republic (€2.5 million), Sweden (€114.8 million), Netherlands (€216.3 million), and the United Kingdom with €554 million.
President Kenyatta recently reiterated that his government won’t stop borrowing for as long as debt is toward development agenda and is not vested through corruption.
By the time he will be leaving office in 2022, president Kenyatta will leave a staggering debt of around Sh 7.17 trillion, it has been estimated.
From 2012 to 2017, Kenya had already lost Sh 1 trillion worth of money through corruption. Corruption in a country like Kenya is glorified by masses, the main culprits were even elected as senior government’s officials. The National Youth Service (NYS) scandal was a corruption scandal within Kenya’s Ministry of Devolution and Planning. As high as Ksh. 1.8 billion ($17,400,000). At the center of the scandal was the then ministry’s cabinet secretary Anne Waiguru. Ann Waiguru is currently the Governor of Kirinyaga elected by people.
President Kenyatta, in 2015 took a blindfold action to suspend 5 of the cabinet secretaries and eight top state officials named in a confidential anti-graft report. If not all, majority of suspended cabinet secretaries and state officials were appointed somewhere else by the same president, others were elected by people to senior most position in government during 2017 general elections. The more you steal the more popular you become amongst Kenyans.
Some of the European countries that pledged loans and grants to Kenya were and still are experiencing financial crisis, this is to say that whatever is announced there by Kenya’s Treasury cabinet secretary is cruel and usual way of investments by developed countries to developing and poor countries, huge benefit is expected in return. It should be noted that this continent loses $210 billion to European and American corporates (mostly European) through tax dodging, illegal capital flow among others every year, in exchange of £161 billion a year in form of loans, remittances and aids, Kenya is in fact not an exception of these modern day exploitation, Kenya is a big victim, given that this a society, where money is a god in a special way, money is influence, money is justice.
In 2017 several campaign groups, showed that sub-Saharan Africa is a creditor to the rest of the world, if you see the amount that goes out of this continent and amount coming in, you can see a shortfall of more than $45 billion. This is the long term investments, of which Africa is ruled by ignorant leaders, who are not strategists. They are being used to develop other people’s countries knowingly or unknowingly. Leading to native people here in Africa to live miserable lives. Life in Kenya is a struggle, some people survive with only one meal per day. When you are born in Africa to an ordinary parents, prepare to struggle. Cost of living is on the rise each and every day, no jobs for graduates, and its funny Deputy President is going around with his usual narratives of propaganda that their government has done so much in terms infrastructure and people should rate them as the best performing government. Remember that almost all infrastructures DP is popularising to Kenyans are funded by loans, most of the projects are excessively bloated compared to the same projects in neighbouring countries. This means that most of the projects are marred by corruption. What Kenya’s DP is trying to showcase is that, jobless college graduates, roads are built for them to tarmac on while searching for jobs. To Kenyans who are big fans of political gatherings, nothing really much of value to life is being said by politicians, they are all pure lies and propaganda. As stated by Nazi Propaganda Minister, Joseph Goebbels, “The most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly-it must confine itself to a few points and repeat them over and over”
Thomas Sankara once stated “Whoever feeds you, controls you”, this is true, we have been held hostage since independence by the whole world, African leaders should not be African peoples leaders, they are not for the interests of their people, they should be called “imperialists extension Bosses”.
African leaders can be described by simple statements, they don’t care about the majority of people, they are scared of changes or they are too dump to not know what is going on. You cannot continue to use the same formula of problem solving for more than six decades and you know it’s not working and it had never worked, even wild animals, they changed tactics whenever their old tactics are deemed ineffective.