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Palaver

By | October 12th 2011 at 00:00:00 GMT +0300

Wednesday’s editorial cartoon best captures the public view of the National Social Security Fund, an institution at war with itself over its late entry into the 21st century. It is ridiculous that in this day and age, some of the board members in a body that holds billions of shillings in unpaid dues belonging to dependants of retirees who died in poverty can be opposing reforms that would end such a travesty of justice. It appears a managing trustee for the NSSF is not expected to be a reformist.

Still on NSSF, a bird tells Palaver one of the reasons some powerful people are opposed to the skills audit recommended by an independent auditor because they have stuffed the place with their relatives who lack the requisite qualifications for the job. One of them is a chap who regularly froths at the mouth commenting on anything and nothing under the sun. The board is split between reformists and people like him who have directly benefited from the system. Workers, including Palaver, fears another round of musical chair is in the offing.

Now that the weatherman has warned the Government that a disaster is pending with the advent of La Nina at the Coast, will we see a concerted effort to prepare for floods, damaging high tides and the ensuing drought? Yes, after the unusual cold spell we are experiencing this October, there is a strong likelihood that we are facing another long spell of drought. Another Kenyans for Kenya campaign may be necessary by this time next year, or even earlier.

Who is behind the fall and fall of the mighty Kenya shilling? Earlier this year, we were told by the CBK Governor that a cabal of banks (which he is yet to name) are responsible. Now Cotu boss Francis Atwoli claims the people are known and the real reason is to raise money for next year’s elections. He should be brave enough to name them!

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And finally,

The problems facing the shilling have less to do with Europe and the US, and more to do with a failed, theoretical approach to monetary policy by CBK. Banks know this and have lost all respect for the regulator, hence the volatility of the currency.

[email protected] co.ke


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