We do not want government inside SACCOs, because they already messed up banks, made loans harder to access, killed small businesses and now want to follow Kenyans into the last place they still borrow from.
All factors held constant, government should not compete with ordinary Kenyans for money.
The government propagandists have now arrived with the usual confidence of people who call others ignorant after swallowing fake talking points without even chewing it properly.
Their new argument is that SACCO members should stop worrying, since pension funds invest in roads, people buy Treasury bills, China borrows from public savings, and the same logic should now make ordinary Kenyans relax as government eyes SACCO money.
This is the kind of clever nonsense that sounds educated until you remember that buying Treasury bills is voluntary, pension funds have separate long-term mandates, and SACCO savings are member money used daily for school fees, emergencies, businesses, land, hospital bills and small loans.
A Kenyan putting money in a SACCO is not asking Treasury to turn his private sacrifice into a road project, the same way a person putting money in M-Pesa is not inviting government to call his balance domestic capital.
The propagandist wants Kenyans to compare SACCO savings with government bonds, yet he conveniently forgets that a bond buyer chooses the risk, chooses the amount, chooses the maturity date and knows the government is the borrower before sending money.
SACCO members joined savings societies for affordable credit, member support and personal financial safety, not to become silent lenders to a government that has borrowed everywhere, taxed everything, sold public assets and now wants to look clever near private savings.
The NSSF example does not rescue the propaganda either, since NSSF itself has had to defend the Mau Summit and Rironi road exposure by saying its role is limited, regulated and tied to an equity portion, which already proves that member money in infrastructure is sensitive business requiring answers.
The CPF example also proves the opposite of what they think, since organised pension and capital market players raising project finance for a toll road is not the same as government staring at SACCO savings built by teachers, nurses, police officers, farmers, boda riders and mama mbogas.
If this thing was such a clean win, government would not need bloggers to insult citizens into silence, and Treasury would not need kindergarten examples about China and Treasury bills to calm people asking whether their savings are safe.
Ignorance is bad, but propaganda being pushed as financial literacy is worse, because it teaches citizens to clap while their private money is being measured by the same state that cannot explain where the borrowed trillions went.
What we dont want is 'walking' into a SACCO to ask for your own money or business boost loan, only to find Mbadi standing in the same line with a bigger bowl, just like they did with banks!
1/10
Justice Thomas’ dissent is hands down one of the MOST intellectually dishonest legal opinions I have EVER seen.
It should be clear to every American he is a compromised political actor - not a respectable member of this bench.
Apple has increased prices for some Macs and iPads due to rising chip costs.
Among the changes:
— MacBook Air up by $200 to $1,299
— Base MacBook Pro up by $300 to $1,999
— Base MacBook Neo up by $100 to $699
— iPad Air up by $150 to $749
— iPad Pro up by $200 to $1,199
Kenya is now a police state.what justifications does @NPSOfficial_KE have to close all roads? Are we really sure we will make it polling stations next year? This is wrong on so many fronts #JusticeForOurMashujaas
Bro,the BILLIONAIRE you are;HIDING behind 'debts';forcing many months' UNPAID labour slaving to defend your STANDARD headlines extortion GANGSTERISM driven by GREED; is HEARTLESS to loyal workers, INSULT to journalism and BETRAYAL to free media that STANDARD once belonged.
These speed cameras are a good idea if implemented properly. Included offenses of reckless overtaking and failure to keep left on highways. Matatus too with their abrupt stops