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National Treasury Cabinet Secretary Henry Rotich. He recently stated that his ministry does not know where Eurobonds proceeds were used. Photo courtesy of www.kenya-today.com
National Treasury Cabinet Secretary Henry Rotich. He recently stated that his ministry does not know where Eurobonds proceeds were used. Photo courtesy of www.kenya-today.com

Will 2016 herald a new dawn for Kenya after Eurobond scandal?

We are heading into the end of the year and with just a few days remaining, it is a year whose events Kenyans hope will not be repeated.

Corruption has threatened to tear the country apart as different camps take sides for or against those accused of benefitting from the vice.

Kenya is now heavily indebted and pundits have given shadowy prospects to the country’s economy in the near future.

Indeed, David Ndii, the Managing Director of Africa Economics, has cast aspersions on development projects the Jubilee government has prided in for long.

The Eurobond saga has become the biggest scandal to rock the Uhuruto government and Ndii says that unless there is a clear trail of the expenditure, then there is a lot more than needs to be done to bring to book all those involved in the scandal.

In the article published in the Daily Nation on December 18, 2015, Ndii says,

“It has been pointed out that the government has published three different accounts of how the Eurobond flowed into the Budget. Two of the accounts do not exhaustively account for all the monies.”

The reason for the publication of more than one book of account means there is a lot that the government is not willing to let on when it comes to the Eurobond proceeds.

A screenshot of the deduction on a Kenyan making Sh30,000 a month. Kenya's debt is putting many Kenyans under immense pressure to finance the ballooning borrowing. [Photo: Njenga N]
A screenshot of the deduction on a Kenyan making Sh30,000 a month. Kenya’s debt is putting many Kenyans under immense pressure to finance the ballooning borrowing. [Photo: Njenga N]
And Kenyans have not been amused by this cover up which seems to keep burdening Kenyans and yet there is little to show for it.

Earlier in the month, Kenyans took to social media to complain against the debt that the government kept burdening the country with but little seems to be done to address this unease among citizens.

And some sense being spoken:

In Kenya today, anyone earning a gross salary of Sh30,000 has to part with close to Sh7,000 in taxes, most of which is wasted by a spendthrift government and bloated workforce with duplication of duties.

A screenshot of the tax calculator on KRA's website. This is a tool one can use to tell how much they pay in taxes. [Photo: Njenga N]
A screenshot of the tax calculator on KRA’s website. This is a tool one can use to tell how much they pay in taxes. [Photo: Njenga N]
It, however, remains to be seen who will blink first; the government or the people on the issue of reducing the burden on an already impoverished nation.

And with politicians proving daily they cannot be trusted to be clean when it comes to corruption, the country’s only saviour would be sensible voting to eradicate the political elite who care not for the masses unless it is in terms of votes.

About Njenga Nelson

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