NAIROBI: No matter how you look at it, something is amiss in Kenya. Corruption appears on a resurgence of epic proportions. We hop from one corruption scandal to the next, none of which ever proceed to any judicial conclusion. In recent weeks, debate on whereabouts of the Eurobond billions and the effect (or lack thereof) on the economy, has reached fever pitch.
The Controller of Budget, on her part, revealed that the monies were deposited in an off-shore account over which she had no power; nor did she approve the use of Sh53.2 billion for a loan repayment. At the same time, the economy appears to have experienced a dramatic downturn: the cost of living remains oppressively high for the average Kenyan, forex rates have plummeted with the dollar exchanging at Sh107 at its lowest point, while interest rates have continued to rise.