By S N
We are about to enter the most difficult five years of our economy.
While they are busy distracting you with Matatu crackdown (a very colonial way of addressing issues) and acting all tough on an exaggerated problem of exam cheating, the economy is so going so fast.
Very serious government decisions have been played down such as the sale/privatization of state corporations, notably Kenya Pipeline and I gather the port is being cleverly sold.
Listed companies are having so bad.
Transcentury, East African Cables, Stanlib, Car and General, East African Portland(I gather it has been shut), are now under the watch of CMA. These are companies whose CEOs probably donated to the Jubilee campaign kit.
Kenya Power, Uchumi, Mumias and EA Portland have not published their financials.
So many SMEs are dying a fast and painful death.
In the meantime, the govt just got another 530 billion for the Big 4 from the EU. Not sure how we will repay, but be ready for imports from everywhere, very few exports, and by 2022, things will be so thick yaani…
Now, back to the 520billion from European Union as is what our Economy Watch’s Mr Njega posted:
This is interesting because the amount of money involved is huge. KSh 519 Billion is a lot of money. Let us however remember that under a similar arrangement the EU offered 320 billion for the period 2014-2017 period. If actually they disbursed such money then I wonder how it is spent because it is not being felt on the ground.
“Kenya has signed a Sh519 billion (4.5 billion Euros) agreement with the European Union that will go towards supporting the Big Four Agenda from 2018 – 2022.
National Treasury Cabinet Secretary Henry Rotich said the support is in the form of concessional loans and grants with 19 EU states participating in this second phase of the joint co-operation strategy.” Capital FM
Anyway amkeni tusort the big 4.