Kenyan treasury is out of money due to corruption and tax evasion.

[galbeedi]

 

 

At the moment, Kenya is in credit crunch. There is no money in the treasury due to corruption and tax evasion. The current government,  which has left only few years before its term ends,  had started a campaign to collect more taxes and introduce tough tax measures. Everyone in the region  is looking  how efficient Rwanda became and they all want to copy and implement. But, in Rwanda, Paul Kagame had started from the scratch and succeeded after hard work. Today, Kigali is called a little Chicago in terms of business and efficiency.

Now, how could a president whose term is ending soon would be able to implement this huge tax reform at this stage. They have arrested the head of  the national revenue agency and others were accused of corruption. They are  investigating tax returns of five years  ago retro effectively and they started raiding business and private accounts. They have frozen a lot of accounts. 

Due to these moves private and business people are withdrawing large amounts money of before it is taken over by the state. Confidence in financial security is going down. The moment the government decides to raid account , all will crumple. Foreign currency and cash is leaving Kenya en mass. Business confidence will evaborate and people will seek alternative save countries. Folks, Kenya is in trouble. 

 

To make matters worse, President Uhuru Kenyatta , just like the dictators next door,  is trying to change the constitution by changing the two term limits. His vice president William Ruto has been implicated in corruption and other malfeasances. So, Kenya will be facing both political and economic problems sooner than we might think. 

When Somalia finance minister C/raxman Bayle told Somalis to bring their money, it wasn't just figurative speech , but a well founded fear of Somali assets in real danger. Somalis are not even first or second in terms of hard currency and wealth, but others are feeling the pressure already. 

These moves by Kenya might be a blessing in disguise for many Somalis. If large Somali wealth is repatriated back to Somalia, it might change the economic situation of the country. If Mogadishu is not safe, then go to Borama, Garoowe, Hargeisa and other places, and start something. The world is changing and Somalis must build their own than constantly roaming around like a nomad. Greed is dangerous and might destroy Kenya if they do not change. Uhuru want to be a king and rule another 20 years , and that greed will bring down  the Kenyans.

 

Folks, this is not partisan or political commentary from my side, it is the latest Kenyan problems that is happening as we speak.

[galbeedi]

Waa la is dhacayaa. Soomaaliyeey Xoolahaaga meel gayso. 

Before it is too late , Somalis must move their money to back home.

[Holac]

Galbeedi never rambles saxib. His thoughts are always organized. 

[maakhiri1]

Quote

In 2018 Kenya's Gross Domestic Product (GDP) is about US$85.98 billion. ... The country's real GDPgrowth averaged 5.7 percent in the first quarter of 2018 and nearly 6.3 percent in the second quarter of 2018, compared with 4.7 percent in the first quarter of 2017.

Intaan isku maqneeyn, baa rag kala tegay, their military budget is twice bigger Somalia's GDP. 

 Extremely corrupt but very wealthy compare to Somalia and bigger  economy than that Ethiopia of 110 million people.