Why Kenya is not about to go the Sri Lanka route, Kenyans stop wishing for an economic meltdown

The cheeky smile says it all.

This long weekend I decided to read more about Sri Lanka and why they are in such big trouble. On the other hand I have heard and seen comments by Kenyans online eagerly waiting for Kenya to go the Sri lanka way , why would any sane person wish for such ?

Stupidity is sailing in a boat with a friend you don’t like then drill holes in the boat ostensibly to teach your ” enemy” a lesson . That 🚢 boat is Kenya. Please go get your head examined.

Please allow me to make a few comments.

My thoughts .

  1. Two brothers and families destroyed Sri Lanka. Mahinda who was President for 10 years had his other brother current president Gotabaya as head of military. Mahinda upon winning in 2005 with his brothers Chamal, Gotabaya ( current president) and Basil took over ministries that controlled three-quarters of the national budget. Please tell me where do we have that in Kenya?
  2. Mahinda is remembered for destroying Tamil tigers rebel group who fought for many years . Folks in Kenya we don’t have blood brothers occupying key slots and we have healthy democracy.
  3. When Mahinda lost the elections 4 years later his brother current President run for office and then appointed Mahinda as Prime Minister and two other brothers as ministers +++. Kenya we are not in such a scenario. Granted Jubille Have had issues but their term is now coming to an end and no blood brothers held positions.
  4. Matters economy Tourism is the back bone of Sri Lankas economy and the terrorism attacks did not help them at all . Then pandemic hit and Sri Lanka also took too long to reopen and one key forex source dried up. Kenya we also depend on tourism but we managed to address terrorism woes and we also reopened quickly after covid which Sri Lanka did not do. As Sri Lankans invade the Presidential Palace wild beast migration is about to invade Masai Mara. Please try to fund a room in the Mara for July. August & Septmber. Kenya coast is also busy thanks to Kenyans.
  5. Sri Lanka’s made a wrong move to ban importation of chemical fertilizers ostensibly to save on forex which lead to huge drop and even failure of rice harvest which is staple food and also a key export. Even tea was affected by the fertilizers ban. Kenya we have not taken such a move and we are not about to do that.
  6. When current Presidnet won he decided to reduce taxes big time which lead to lower revenues for the govements. The international bodies like world Bank and IMF were not pleased with that move and credit tap was turned off . Kenya on the other we have been collecting more and more, let us give credit to KRA who have been able to surpass target after target. What we need to do next is to ensure those taxes are utilized in the right way. KRA are doing marvelous work and hats off to them.
  7. Then president Gotabaya also refused to engage IMF for any rescue package until a few weeks ago , too little too late on the other hand Kenya is engaging all these bodies openly. CBK Governor a man I have heard him speak on many occasions is steadying our ship Kenya. Even CS Ukur Yattani has been able to drill deep and review terms of loans away from commercial rate signed by his predecessor. He has been able to restructure debt stocks by refinancing or substituting commercial elements with concessionary ones, folks if he never took action we would have tanked in 2020 during the covid crisis
  8. In Sri Lanka electricity cut, power black out could last 14 hours a day since most of their electrivity is thermal generated luckily Kenya it is less than 10% themal . We are hydro and Geo dependent 90% , we should be proud this is green energy a dream even for the developed world. If only we built refinery we would have been cushioned totally since we are blessed to have struck oil.

Good people we sometimes beat ourselves too hard, even with all the woes by Kenya Power these days power cuts are in far between. In midst of global crisis we were given a 15% reduction in cost per unit and we are now waiting for the 2nd 15% reduction. I hope President Uhuru makes it before he vacates office.

  1. The debt levels Sri Lanka’s hit the 115% mark while Kenya is half of that so we ain’t a train smash, far from it. If it’s a hospital we are in general ward while Sri Lanka are on life support in the ICU waiting for Dr IMF and Dr World Bank. Simple example Sri Lanka is begging IMF for $2Billion as life line that is what is 5 big banks currently churn as profit in Kenya or even a better comfort that is less than Safaricom’s turnover .
  2. The huge remittance by Kenyans in the diaspora $4Billion or Ksh 400B + has really cushioned Kenya unlike Sri Lanka and many other developing economically limping nations. If you have a relative sending funds to Kenya please give then a warm hug.
  3. We don’t have the habit of military dabbling in politics unlike many other African countries moreso West Africa. Our disciplined forces are on another level let alone run for office in camo wear.

My fellow Kenyans we certainly have issues but we ain’t a train smash and never wish to be a failed state . I have several Sri Lankans friends and I wish them quick recovery from their current economic meltdown.

For the young Kenyans it is important for you to know that our military were even called in to quell the violence in our lowest moment in 2007 when the police were overwhelmed. Please let us give a big salute to our disciplined forces, strict discipline and Tonje rules is working magic when we leave institutions to function.

As always yours truly is choosing to remain an optimist

Mohammed Hersi
Mombasa

2 responses to “Why Kenya is not about to go the Sri Lanka route, Kenyans stop wishing for an economic meltdown”

  1. Thank you, Mr. Mohamed Hersi. Globally, we are in an unstable world where it is difficult to imagine what comes next! You have taken the trouble to study why Sri Lanka is where it is today and clinically contrasted it with why Kenya it where it is. In so doing you have painted a picture of a patriot who cares about his country and warned against the careless behaviors which can lead down a dangerous path – it takes days to destroy a legacy built over decades! By its very nature, democracy is vulnerable and needs protection and nurturing by every responsible citizen! Thank you for your contribution!

    Like

    1. Thanks Dr Osman, yo are absolutely right and it is important we educate the younger generation

      Like

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