Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi


Mutahi Ngunyi: Kenyans are loan maniacs, Have no authority to question Uhuru’s borrowing

CAPTION: Political Analyst Mutahi Ngunyi

Outspoken political analyst Mutahi Ngunyi has taken a swipe at Kenyans questioning the government’s increasing appetite for foreign loans.

In a set of controversial tweets published on Wednesday afternoon, the formerly closeted Uhuru Kenyatta-sycophant claimed that Kenyans’ habit of borrowing among themselves denies them the moral authority to lecture the International Monetary Fund (IMF).

According to Mutahi, statistics show by Christmas this year, Kenyans will have borrowed twice what the IMF loaned Uhuru from Fuliza alone, with Saccos, shylocks, MFI’s and “Chamas” excluded.

“Kenyans are loan maniacs. They Fuliza 1.2 billion a day or half a trillion per year. Between January and June, they will borrow 262 billion, or what IMF is loaning Uhuru (Ksh 261 b). If so, what moral authority do they have to lecture him or IMF? They should just sit on a pin.

By Christmas, Kenyans will have borrowed twice what IMF is loaning us. And they will have borrowed it from only one source: Fuliza. If you add Saccos, shylocks, MFIs, and Chamas (forget banks) they will have borrowed trillions. Are they stupid? No. They know that borrowing is good,” he wrote.

Mutahi’s comments come a day after over 150,000 enraged Kenyans have so far signed a petition through in a bid to stop International Monetary Fund (IMF) from releasing its Sh257 billion loan to Kenya.

The accumulation of debt, including from international capital markets (Eurobond), has seen Kenya commit more than half of taxes to pay loans in recent years.

Further, the cost of servicing public debt has gone up in tandem with the ever-growing budget deficit, which has made it necessary for the government to increase its borrowing every year.

The government has defended increased borrowing, arguing debt has helped build new roads, a modern railway, bridges and electricity plants and transmission lines but in the real sense, many of these projects are either ghosts, incomplete or pure White Elephants like the Standard Gauge Railway which has still never made any profits since its inception.

Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.



Click to comment


You May Also Like


*Editor’s Note: This open letter to Safaricom has been published as received. No redactions have taken place to avoid legal issues pending a court...


  These pictures you are about to view calls to heart the need to be extremely careful about what you do in the  secret...


This is an intervention for Victoria Rubadiri so as to help her revert back to factory settings. We notice your slow drift away into...


Caption : Edwin Kigen Who was Murdered in Madaraka Estate. We demand for answers from Boinnet ! Another young man may have been brutally assaulted and...

Copyright © 2020 Cyprian Is Nyakundi.