This is what has taken Kenya to the brink. I foresee National Bankruptcy. The IMF will swing in to action and pulverize the remains. I can't see how these mandarins will take an 80% salary cut in salaries and personnel (retrenchment). Moi managed to get through with hardships and by the time he was leaving had set the firm basis for growth. Instead Kibaki came and reversed it all. The boom is over if you ask me. We have seen this in Spain. Boom financed by debt.
The stupidity is driven by the promise of oil revenues. What a joke!
Thatcher thought she could do it with the North Sea Oil. The oil wells ran dry. Norway had done the same in the 80s and paid heavily years later. They learned and stopped dependency on oil. Oil can only help a country that is willing to support and grow traditional industries. It is a wonderful catalyst. Otherwise you end up like Libya and Saudi Arabia. I see Kenya ending up like Venezuela in the 80s.
Is there a clean contract issued anywhere in kenya..either in county or nation gov or private sector..most likely not. This rot is so deep seated.
Topic: Forget small chicken, it's turkey for Christmas! (Read 4406 times)