This archive report was first published on 17 December 2019.
On December 17, 2019, I had the opportunity to read Musalia Mudavadi's new book, a special interest for me given my long-time reporting on economic and business issues in these columns.
As a seasoned public figure who was at the helm of economic policy-making in Kenya at a crucial time in our history, Mudavadi's book offers a unique perspective on the country's economic landscape.
One of the most fascinating aspects of the book is its account of the command control regime that once dominated Kenya's economy. The regime, which included the Price Controller and the Exchange Control Department at the Central Bank of Kenya, was responsible for setting and dictating the prices of commodities as mundane as needles and razor blades.
Mudavadi, who led the demolition of the command control regime, provides a detailed account of the behind-the-scenes shenanigans that used to happen within the power networks of that time.
One of the most compelling lessons from the book is the lengths to which long-serving incumbent elites will go in damaging the economy when they are threatened with being dethroned from power. The Goldenberg scandal, which saw billions of shillings looted from the Central Bank, is a stark reminder of the dangers of unchecked power.
While the book is a personal memoir, Mudavadi's account of the economic reforms he implemented during his time at the Treasury is a valuable lesson in navigating through enclaves of resistance in government to introduce politically unpalatable reforms.
However, I felt that Mudavadi could have given more prominence to his own innovative solutions to Kenya's economic problems. Instead, the book focuses too much on politics and the sterile obsessions of the contemporary political elite.
