Andrew Odete

Lawyer, Writer, Dreamer, my Neighbour's keeper.

[Conrad Kulo @ConradKulo]

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

[Roselyne Wanjiru @WRoselyne_]

Four Pockets of Debt in Kenya (c/o Jimmy Wanjigi):
1. The Paris Club pocket - Bretton woods institutions
2. The London Club debt - Eurobond & syndicated debt
3. Chinese debt
4. Domestic debt - treasury bills & bonds

In the medium to long term guidelines, you can only borrow for development. E.g. USAID funding a bridge under the appropriation bill.

♦️ The London Club pocket is expensive commercial money coming from private investors looking to earn an interest rate (6-7%). $ 7 Billion wasn't in the budget, the consolidated fund. It wasn't for development.

♦️ Chinese debt stipulates what projects are being supported.
- The SGR example: a private project not to rely on taxpayer funds. The technical study yielded KES 55 billion from Mombasa to Malaba. The figure shot up to KES 360 billion Mombasa to Nairobi. It shot up again to KES 500 billion to get to Naivasha.
-Govt was to raise 10% or KES 50 billion (self raising finance under the treasury). The Chinese govt would finance 90%.
- KES 644 billion was raised from treasury.
- KES 700 billion above the required amount went into the project.

♦️ Local debt amounting to KES 5.1 Trillion:
Banks, insurance companies: our taxes pay for banks to make profits.
Local interest rates are high to retail, but institutions lend to government at ~16%

♦️These bonds and bills have funded nothing in the budget.
We've paid KES 2.7 T in interest payments. Should our money be in bills and bonds that do not build the nation.

We are in a mode of slavery!

The 2024/25 & 2025/26 budgets have KES ~1.8 Trillion & 2.3 Trillion under *repayment*.

[Mukami Mungai @antirada_]

I personally wrote to @FinlaysUSA regarding the issue of the election of rapist John Chebochok as Factory Director for Toror Tea factory which is under @KTDATea. Ben Woolf who is the Group corporate affairs director responded to me and I'm glad that Finleys has called out @KTDATea and said that they will no longer purchase tea from KTDA as long as Chebochok's appointment is withheld. @mithika_Linturi @Lipton @kilimoKE @IEBCKenya #Endgbv

[Phannie A. Kwegah 🇰🇪 @MissKwegah1]

@EricLatiff @LinusKaikai @jageyo @KTNNewsKE @ntvkenya @citizentvkenya @SpiceFMKE 1. IEBC Reconstitution. How soon.
2. Abductions- to what end? When will they stop.
3. Unconstitutional offices - will he get rid of them?
4. Corruption and mismanagement of funds- is he willing to lead from the front and takr measures to curb it?

[Daddy Owen @daddyowenmusic]

Ok... this movement has to be one of the craziest things av ever seen! GEN Z wako on tiktok live wakiingia parliament with all the live shots and still demanding you tap tap the screen and send gifts and lions?
#RutoMustGo

[Andrew Odete @AndyDooo]

@SingoeiAKorir Thank you PS

[Winnie Byanyima @Winnie_Byanyima]

Developing countries spent a record $443.5 billion to service their external debt in 2022.
No nation should have to choose between saving lives, putting children in school & providing social protection- or repaying crushing debt.
#HealthForAll @WorldBank
https://t.co/FNNQvn8reS

[António Guterres @antonioguterres]

Many countries are falling short when it comes to investing in public education.

Quality education is not a luxury - it is a human right.