KIBAKI'S TENURE Vs OTHERS: HAPPY BIRTHDAY KIBAKI

KIBAKI'S TENURE Vs OTHERS: Happy Birthday President Mwai Kibaki. You are the best so far and Kenyans miss you.
In 2002, you took an economy & country that was literally on its knees. Our Public debt (Both Domestic & Foreign) in 2002 was around Ksh 650B largely because no one would lend to us. Our stock market had collapsed, businesses that thrived were only those whose valuable asset was patronage and connections. Basic education was for a few and University education was for a smaller privileged click. Literally, Kenya was just a name.

You took our economy from the abyss and made us walk again. You opened up our economy, businesses thrived, our stock market headed North, gave us free basic education, opened up access to University education. You opened up our financial sector to local banks and gave them space to thrive - some are now regional giants like Equity Bank that was licensed in your tenure. The multiplier effect of these and many more initiatives led to massive employment opportunities. Banks, Telcos, manufacturing companies etc were on an expansion spree, requiring the great talents of our Youth; creating employment.

In your tenure, meritocracy reigned. People were given opportunities in high offices on the basis of what they could deliver. Like Deng Xioping of China and General Park of South Korea, you employed the best and the best took Kenya forward. 

Mr President when you left in 2012, our economy was great, real money was in the pockets of Kenyans. Kenyans were generally happy and optimistic. 

Our Public debt was a paltry Ksh 1.8T. Having borrowed a net only Ksh 1.2T in your 10 years. 

As of now, Mr President, this is the state of our Nation.

Our Public Debt is in excess of Ksh 7T. Having borrowed a net of over Ksh 5.8T in 8 years. We now borrow Ksh 2.2B every day and every Kenyan including a new born owes our debtors Ksh 150,000. 

Mr President, you Privatised and strengthened the already Privatised state corporations by identifying talents through merit and grew them into respectable companies. Mr President, banks like NBK that were real financial institutions had to be bailed out. Kenya Power that you built and was making Billions in Profits is now in red, having made a loss for the 1st time in 17 years. KQ, the towering brand and Pride of Africa has been transformed into shame. After making perpetual losses, was recently delisted from the NSE. Our capital markets are reminiscent of the Moi regime. Have shrank. No new listings. As all this happens, we are told our economy is growing and doing well and saying otherwise is being disrespectful. Mr President, as an Economist, you know figures and facts need not explaining.

Mr President, the new category of Middle class you built at Kirinyaga Road, Nyamakima, Sheik Karume, Luthuli, Gikomba are now poor. Importers, Spare Parts sellers, small scale manufacturers have diminished. And Mr President, we are supposed to clap and hail the King!

Mr President, merit is now on the basis of Kin Selection, reciprocal altruism and other forms of patronage especially being an Almnus of St Mary's or other such schools that were a privilege of the yesteryears ruling class.

The joyous farmers you left and now broke, hungry & angry. Most of them are now slaves in their own shambas.

Mr President, Credit and business loans that were being hawked have now been replaced by Fuliza and such other platforms; tool of making Kenyans poorer by encouraging consumerism - most are processed through banks that have conflict of interest.

Mr President, you led our country well without putting yourself first. Transformed our financial sector without demanding stakes in those institutions. Now, we can hardly differentiate between Public and personal interests of the ruling class. They are in every sector and we cannot tell what comes 1st in the decision making. Take for example Mr President, when confronted with a decision pitting Milk farmers and Processors, what comes 1st? When making regulations on bank rates and especially mobile loans that are processed through banks owned by the ruling class, what comes 1st?

Mr President, I would need to write a book to empty all but for now, wacha niachie hapo. But Mr President, things are bad.

Happy Birthday Mr President - the man who never struggled to get his "LEGACY" but got it through his deeds. Your LEGACY is GREAT & TOWERING.

We wish you many more and truly we love you President Mwai Kibaki.

We are African and Africa is our Business..~ #NDINDI_NYORO

Post a Comment

0 Comments