Government and Policy

They Are Not Paying Debts, They Are Stealing From You

BY Juma · June 23, 2023 07:06 am

KEY POINTS

According to Mr. Wanjigi, in the eight financial years to 2022, the appropriated debt repayment under the Recurrent Expenditure was 5.6 trillion shillings. Adding the outstanding debt that President Mwai Kibaki left of 2.37 trillion shillings as of June 2014 to President Uhuru’s authorized debt of 2.001 trillion shillings totals 4.371 trillion shillings.

KEY TAKEAWAYS

Wanjigi says that over the last eight years to 2022, the government of President Uhuru Kenyatta borrowed unauthorized domestic debt totaling 2.9 trillion shillings and unauthorized external debt of 1.8 trillion shillings. The total unauthorized debts of 4.098 shillings cannot be linked to any authorized development projects.

Politician and businessman Jimmy Wanjigi seems to be on another level of billionaires; not a typical Kenyan billionaire. No billionaire in Kenya would use his/her money to hire forensic investigators to carry out an audit of our public audit.

So, many, especially our politicians have not taken him seriously. Typical of us though. He has been like the lonely voice in the wilderness, telling us to open our eyes and see the public plunder and looting that is legally happening right before our eyes.

Wanjigi has termed the numbers that are often published by the Central Bank of Kenya as an outstanding public debt as being fictitious and meant to hoodwink Kenyans into paying for debts that do not exist. He says it is a massive looting of our money.

Wanjigi commissioned a “first-ever fraud investigation into the public debt covering a period of eight financial years from 2014/15 to 2021/22,” and from the findings, he wants President William Ruto to refuse to pay the debts that were “unconstitutionally acquired.”

“I established red flags indicating that the public publicized outstanding public debt of Ksh 8.4 trillion appeared inauthentic. In simple terms, there is no outstanding public debt – the 8.47 trillion figures publicized by CBK as outstanding debt is fictitious,” he said in 2022 while unveiling his findings.

“If the amount appropriated for the repayment of the public debts, 5.6 trillion shillings, was used for repayment of authorized debt of 4.371 trillion shillings, Kenyans would have been left with a credit balance of 1.23 trillion shillings, and no outstanding debt,” said the visibly angry Wanjigi.

Mr. Wanjigi says that the so-called public debt is the massive looting of public funds camouflaged as “public debts.” He says almost all the debts that were incurred by Uhuru Kenyatta’s regime cannot be linked to any “authorized development projects.”

He said the current crop of leaders has failed to tame public debts and has been borrowing to consume while hoodwinking Kenyans that the debts are for developments. He says President William Ruto has a chance to change history and make things right.

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“President William Ruto has date not signed warrants, as we are talking today, he has the greatest opportunity to change the destiny of this nation by refusing to pay what has been taken and unlawfully as debt. The day he signs the warrants, he becomes that onus, that odious debt goes to him. So he has that opportunity and my advice to him today is President William Ruto, do not sign the warrants that go to debt that has been unconstitutionally taken otherwise you become the owner,” said Wanjigi.

“This is a golden opportunity to get rid of something that is plaguing even his government …why he’s coming back to us with more and more problems with taxation is because of this problem. Then I would advise that we as a country must start looking at different solutions to the way we operate.”

About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com