This archive report was first published on 20 October 2019.
Kenya's President Uhuru Kenyatta has been facing criticism over the country's growing debt, but it seems he's not too concerned about the financial burden on his citizens. During his recent tour of the coastal region, he was spotted wearing a luxurious A.Lange & Söhne – Datograph Perpetual Tourbillon – Platinum With Dial In Black watch, valued at approximately €298,000 (Ksh. 34,522,684).
While the watch's retail price in Germany is €298,000, it's likely that Kenyatta paid a premium for the timepiece, given its exclusivity. This comes at a time when the International Monetary Fund (IMF) has warned that Kenya's debt risks pushing it into a 'high distress' zone, which would put pressure on economic growth.
Uhuru Kenyatta is currently lobbying for 44 loan agreements worth $4.1 billion with 15 lenders, including the African Development Bank, China, Japan, and the World Bank. If successful, this would push Kenya's total public debt to over Ksh. 6.3 trillion.
