Billions of Kenyan Shillings lost to Graft Daily

By: Joy Ng’ethe (Shiku3joy@gmail.com)

Thumbnail photo courtesy of kenyans.co.ke

Kenyans have expressed their outrage over remarks made by the president on 18th January during an interview when he confessed that Kenya loses up to 2 billion shillings daily to graft. The president made these remarks when he was being interviewed on various Kikuyu radio stations.

The angered citizens took their frustrations to social media expressing their distaste in the state of affairs as revealed by the man who had promised to fight corruption in his manifesto.
Some users are quoted as saying, “I like how in Kenya we talk about 2 Billion shillings like its 20 bob”. Another user commented, “No, Mr President. I cannot allow people to eat Kshs. 2 billion each day while paying MORE THAN 50% of my income in taxes. If that amount of theft (over Kshs. 700 billion a year) was extinguished, Kenya could soon have a budget surplus!”

The president went ahead to emphasize the importance of the Building Bridges Initiative (BBI) as well as defending the high cost of the referendum. He mentioned that the money needed for the referendum would probably be less compared to the amount of money lost to graft daily.

Considering that the Kenyan debt is set to account for 69.8% of the country’s GDP by 2023, the rage expressed by the citizens is highly justified. The Kenyan debt to foreign countries currently stands at almost seven trillion with the expected addition of one trillion Kenyan shillings to the debt for the financial year 21/22. Given that 2 billion is lost to graft daily, it would take Kenya about one and a half years to repay her debts from this amount lost on a daily.

Disclaimer: This calculation does not take into account the country’s earnings rather is using the amount mentioned by the president lost to his corrupt government. The president ended his remarks by saying that he is set on fulfilling his remaining goals for the next year he is in power.

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