Saturday, June 28, 2008

Plus ca change, plus c'est la meme chose

During Kibaki's first term, the first two years saw all the scandals because guys who had financed the 2002 election campaign had to be repaid. And this term, it seems will be more of the same.
Grand Regency- sold at Ksh2bn under "private treaty", but this was the value in the 1990s. If you had bought plot in the 1990s (even 1999), today it'd be worth at least 2.5 times as much regardless of where you bought. Ask how I know, I bought some acres in Naromoru in the late 1990s for 100k each and its going for 250k. The assumption must be money was poured for the election campaigns in return for lower than market sale of Kenyans' assets.
Alcazar-It turns that a significant proportion of the FFI's in the Safaricom IPO were locals laundering their cash. Although my opposition to selling Safcom to foreigners most based on equality reasons, clearly stuff like this would have been harder to do.

And the worst of it. This will happen on both sides of the coalition...


John Maina said...

A year on 10 billion stolen and still counting.

Its mind boggling in the 21st century that via sheer arrogance, impunity, greed, tribalism and contempt to his own government, the parliament and law and the tax payers, Kibaki and his cabal can execute the third daylight robbery after the Anglo-leasing and Mobitelea sagas

Kenyans were used to corruption in millions but at this rate they better become accustomed to the Nigerian ways which involve billions.

tornado said...

@ John maina. I dont think Nigeria is as bad we believe they are.. If you went to any West African country, you would feel sorry for Kenya, Nigeria is full of corruption but they have roads, people have food on their tables and nobody is displaced. We need to get this so called ruling class out of power.. We need peoples government led by objectives and not tribe. I rue for my homeland.

MainaT said...

My only hope from this issue is that it results in Kimunya resigning from being Kenya's FM.
The man is a disgrace.

J K said...

John, with all due respect, while what you raise might be a genuine concern, from your previous but rare posts on this forum your views about this govt all along has been less than flattering, even on times they were doing well. So you should be the last to express outrage because you are not being genuine.
That said, it's annoying when fellows who should know better, make such stupid mistakes. A public asset disposal must never be shrouded with mystery, unless something is being covered. I will not defend this fellows and I will certainly not sympathize with the political whiplash they may suffer, but this saga does not revolve around some shadowy fellows like the Kamani brothers in Anglo leasing, but a government. So as much as I might be outraged, I have a at the back of my mind, a lingering doubt on the intention of this action. Just why would Kibaki want to give the Libyans such a good deal? For personal gains or National good? time will certainly tell.
And before we rush to taking sides just why is Raila so reserved in his condemnation of this deal? Does he know of anything we don't?

John Maina said...

Tornado i think the difference with Nigeria is that it has more wealth than Kenya both countries rates of corruption are too high and unhealthy for development.

J k- interesting observations, I think i have been consistent on my views re; previous/current government and do give credit where its due, I probably have a too high benchmark for the Kenyan leadership and shouldn't we all.

I think the grand regency actions are a well calculated and not a stupid mistake or else we shall end up calling anglo-leasing/mobitelea an avoidable error or someone else fault.

On RO I will leave that for another day

J K said...

John, granted consistent you have been.
The saga continues to unfold with revelations that it's not even Libyan Government in the deal. I was actually wondering what business a Govt would have buying a going concern in a foreign land.
Kimunya and his clique have let us down greatly. But why this impunity or is it stupidity? How did they expect such a transaction to go through unnoticed in the first place.
Finally, what he is he doing as a cabinet minister, the sack is taking too long