When recently the Opposition CORD came up with a Paybill number where citizens who supported teacher’s strike would donate to help raise part of the huge legal costs, no less than Deputy President William Ruto led a charged government wing in dismissing the initiative.
Yet, weeks later, the government is now begging citizens to ‘invest’ into its treasury bonds with as low as sh 3000 through M-Akiba.Â The Treasury is using the Treasury Mobile Direct System, M-Akiba, to collect the sh 5 billion it intends to raise.
Interests earned from the venture will be paid after six months. But scepticism has made made people rather avoid the process, fearing for the worse at a time banks are closing.
Tomorrow, Treasury CS Henry Rotich will appear before parliament to explain the current cash crunch. Yesterday, President Uhuru completely blacked out the issue from his Mashujaa Day address, despite summoning Kenya Revenue Authority Commissioner General John Njiraini to explain the current cashflow crisis.
KRA’s revenue predictions for the first quarter of the financial year 2015/16 fell short with a whooping sh10 billion.