WorldBank officials who are regarded by new-age activists as the most corrupt scumbags in the global financial structure, have conspired with Kenyan Government officials to loot from poor taxpayers.
Since the Jubilee Government came into place, Kenya has been steeped by mounting amounts of debt, borrowed by an increasingly insatiable set of corrupt leaders beginning with President Uhuru Kenyatta and his Deputy William Ruto.
For long, President Kenyatta duped the public using a barrage of media functionaries that he is above board and beyond theft of public coffers, largely because he hails from a wealthy background and thus wouldn't need to steal from taxpayers.
But the reality has been the direct opposite since Uhuru is now turning out to be a worse thief than even former President Daniel Arap Moi, whose stash of funds is hidden in foreign countries. He hopes that his son Gideon Moi will one day rule Kenya so that they can continue with the plunder.
To execute the grand heists, President Kenyatta has roped in WorldBank-friendly staffs like StateHouse Chief of Staff Joseph Kinyua, Finance Cabinet Secretary Henry Rotich, Central Bank Governor Patrick Njoroge, and others who know how to negotiate bribes with local and regional staff of the WorldBank. There are many "technocrats" seconded to Government from WorldBank and IMF. The term "technocrats" is used to define glorified thugs these days, who largely thrive on bribing business journalists like Terryanne Chebet and Wallace Kantai, to appear as saints in the finance sector.
They then conspire with construction companies in-order to inflate the costs, in a bid to secure a large bonuses meaning that for instance when the cost in Europe of producing 1KM of a 4-lane road is $3.5 Million, Kenyans are doing it for $10 Million meaning that Uhuru and other thieves will pocket 750 Million per Kilometer.
The project has been inflated by a whopping Kshs. 12.5 Billion money which will be shared in between President Kenyatta, his Deputy Ruto, WorldBank officials and other senior Government officials. Journalists and their editors will get scraps or left-overs so as to buy their silence so you can forget about such astounding figures being discussed on the mainstream media.
As that heist is happening, respected magazine "The Economist" broke down the fraud that is the Standard Gauge Railway (SGR), a project fast-tracked primarily for Uhuru's political expediency and also as a cash-cow because of the inflated costs.
The Economist is read the world over so this analysis of graft by President Uhuru Kenyatta is currently being read by WhiteHouse officials, 10 Downing Street and elsewhere, and beyond Uhuru's rhetoric, they all know he's just a glorified thug.
This could explain why CORD Leader Raila Odinga has of late regained trust with his international backers who have calculated and seen that Uhuru is largely profiting himself and his family.
According to The Economist, the SGR project is merely hot air. Unlike the old line, which is on a 1,067mm gauge, the new railway is built to a modern “standard gauge” (1,435mm), which ought to increase capacity.
The new track is costing Kenya about $4 billion (or Kshs. 400 Billion) mostly funded by a loan from the Chinese ExIm bank, but how it will be repaid is unclear. Chia ExIm Bank is the most corrupt bank that largely funds redundant projects meant to fleece and bleed third-world countries dry by the bogus super-power.
Although only a year remains before completion, not only are tariffs and rates undecided, but it is not even clear who will run the railway. Kenyan officials have apparently taken to skipping trade conferences of late to avoid answering questions.
Could this be because the new railway is a bogus investment? Its fastest trains will do a fairly mediocre 80kph. Much as with the old railway, parts of the new line will be single-track, forcing trains to stop, often for hours, to let others pass. Most absurdly, it is built to a lower standard of load-bearing than most other new freight railways. Some fret it may not be possible to load four full containers onto each wagon, as is done on other new lines. We're getting a third-rate railway for the cost of a very expensive one, says a consultant.
Rehabilitating the older line might have cost just 5% as much as building a new one on a new right of way, reckons Pierre Pozzo di Borgo of the International Finance Corporation, part of the World Bank.
But it seems President Kenyatta was desperate to loot from public coffers and thus embarked on this bogus project.
What a shame that these so-called "digital" leaders are just a bunch of looters. And it's because Governors saw Uhuru looting treasury with impunity, that even they got the confidence to decimate their county-coffers dry, with many not embarking on any meaningful development projects.
Steal all you can President Uhuru Kenyatta. Dumb Kikuyu's and bribed mainstream media journalists are behind you. Attached: Comparisons between Kenya's letter from Kenya National Highways Authority (KeNHA) which has inflated costs of building the Western bypass by Kshs. 12.5 Billion, and global construction standards.