Kenya’s Ailing Economy: Man Eat Man Dynasty Choking Her To The Grave
Currently, Venezuela is the only nation in the world with the highest inflation rate of 10,000,000 percent.
The situation in Venezuela is so bad that the Central Bank of Venezuela asked citizens who needed money to go with their own printing paper so that the currency can be printed on it.
In Venezuela right now, their own money has no value. They cannot afford to buy anything. The unemployment rate is hitting 90 percent, people are desperate and have lost hope.
The economic tribulations facing Venezuela started like a joke coupled with weak and unfounded economic policies, poor leadership and an inability to sustain her population economically.
In the end, the inflation rate shot to 10,000,000 percent, unemployment rate to 90 percent, poverty levels to unimaginable levels and if nothing will be done, the situation will be worse than it was for Greece.
What is happening in Venezuela would soon happen in Kenya. I know this sounds like a joke but tough times are on the way and soon, people will face reality and there will be nowhere to run to.
Kenya is a “man eat man” society where those in power are both angry and hungry to devour anything public on their way leaving the common with nothing to hold on.
The current crop of leaders in Kenya seems to be aloof of the state of the economy. They seem to have completely refused to face the reality and instead choosing to hide behind cooked numbers that do not resonate with the common man on the ground.
Also Read:
- Venezuela’s Inflation To Hit 1,000,000 Percent By End of 2018
- Uruguay Issues Travel Advisory Against The United States
Corruption
In Kenya, corruption seems to be the order of the day. It is like corruption is deeply embedded within the DNA of any public servant.
The rate at which public funds are being looted from Kenya is alarming and soon, there will be nothing to loot, nothing to eat.
Someone said that the poor in Kenya will soon have nothing to eat but the rich. Those given an opportunity to serve are only concentrating on accumulating wealth. Nothing about the people.
Kenya loses approximately 1 trillion shillings every financial year to corruption. In other words, the country is losing a third of its budget to corruption.
Every time they say that the national budget is 3.6 trillion shillings, subtract 1 trillion shillings that are budgeted for corruption. We are in a country of thieves.
Other countries have the Mafia but in Kenya, the Mafia have the country.
According to the former Chief Justice of Kenya, Dr. Willy Muntunga, “The influence of cartels in Kenya is overwhelming. They are doing illegal business with politicians. If we do not fight the cartels, we become their slaves. But leaders who take on the cartels must be prepared to be killed or exiled.”
Corruption scandals have amounted to a total of 6,652,459,800,000 shillings since 2013 under President Uhuru’s governance, according to Corruption Tracker.
When the Jubilee administration came into power in 2014, Kenyans had so much hope and expectations from the administration as they depicted a breath of fresh air in the political scene.
However, corruption scandals and misuse of public funds started in the first term of Uhuru’s presidency and have continued to occur up to date.
Also Read:
- 6.6 Trillion Shillings Looted as Corruption Balloons in Kenya
- Saccos, the New Corruption Vehicles Propelling Greedy People to Instant Riches
- Kenya Loses Ksh.1 Trillion Every Year to Corruption – What Could 6 Trillion Stolen So Far in Jubilee Government Do?
Inflation and the unemployment rate in Kenya
Both the inflation rate and the unemployment rate are rising at the same time and almost at the same rate in Kenya.
The inflation rate for the month of July stood at 6.3 percent from 5.7 percent in June and experts say the rate is expected to go up.
Among the things that are pushing the inflation rate up include the increasing fuel prices as well as the price of foodstuffs such as maize and maize flour.
The price of a 90-kilogram bag of dry maize is averagely retailing between 4,000 and 4,500 shillings across the country, making Ugali, a staple meal for many households a luxury.
The price of a 2-kilogram packet of maize flour has increased by more than 38 percent to retail between 120 and 135 shillings from between 84 and 86 shillings.
The unemployment rate, on the other hand, is almost reachin