Okiya Omtatah stokes Eurobond fire as Kenyans seek answers

The Eurobond controversy has refused to go away.

This is despite the government giving all manner of assurances that the country is doing well financially.

The topic which has been on the lips of many Kenyans, on and off social media platforms, has been one seeking answers which have not been forthcoming.

In an editorial cartoon in one of the newspapers, Kenyans feel that the money which was acquired from the floatation never served the purpose it was meant to.

EDITORIAL CARTOON: The #Eurobond intervention that never was.. still BROKE #Kenya @ndula_victor pic.twitter.com/hj3o9yva9p

— The Star, Kenya (@TheStarKenya) October 28, 2015

Consumer movement Cofek also weighed in bringing in a spin on the burden the country was taking on.

As we think #Eurobond let’s focus on overall #NationalDebt and missing disclosures on guarantees and securities https://t.co/9gXcsah6ws — COFEK, KENYA (@ConsumersKenya) October 27, 2015

Questions abound over the controversy but no satisfying answers, from the government or Treasury for that matter, seem to be forthcoming.

By the way, what happened to the #EuroBond cash? @UKenyatta @CbkKenya #TreasuryKE #WhyGokIsBroke

— Michael ORWA IV. (@Sangodala) October 19, 2015

Where is Sh122.8bn #Eurobond fortune? #Changamka @GhettoRadio895 — Ghetto Radio (@GhettoRadio895) October 24, 2015

#ThisIsThePoint Focus on #Eurobond Who is telling the truth? Join @BarrackM @Wakabando Farah Maalim & Shakeel Shabir pic.twitter.com/ShSsXeQGoE

— AM Live (@AMLiveNTV) October 26, 2015

Where is the #Eurobond cash? https://t.co/5SHDNMcYhx — mmnjug™ (@mmnjug) October 23, 2015

Some members from the opposition have sought to enlighten Kenyans on the impact:

Repaying #SGR and #Eurobond debts from next year will seriously hurt. The funds did not circulate/stimulate economy https://t.co/SvzfwfMUgN

— Ken Okoth, MP Kibra (@okothkenneth) October 21, 2015

And some advice which should have been considered in making Kenyans bear the burden.

Borrowing endlessly wreckless. Some form of rationality & statecraft missing. #Eurobond http://t.co/GzQgAqXDVW via @dailynation — Ogeke Araka (@ogekearaka) October 14, 2015

During an interview on KTN on Tuesday, Finance CS Henry Rotich was at pains trying to explain how the money has been spent. He said most of it has gone into development projects. Kenyans feels that ‘development projects’ is a guise to misuse taxpayers and their hard earned money to support the lifestyles of corrupt but well connected officials.

At the same time, Rotich said that devolution was taking a lot of the resources as it was expensive to implement. He also decried that the Kenya Revenue Authority (KRA) was not collecting enough as there were still many loopholes which needed to be sealed.

Bank interest rates are at 27% and Rotich is sugarcoating the crisis. Kenyans aren’t fools. Why is govt borrowing locally? #AskRotich

— Muiru Paul (@muiru_paul) October 27, 2015

@YvonneOkwara Very well done in #AskRotich session.The CS came out as unconvincing, unsure of himself, seeking to sanitise economic failure — Codi (@codida) October 27, 2015

Kenya BORROWS 40Billion every month ? Mind blogging stats @KTNKenya w/ @YvonneOkwara #AskRotich

— Digital Humanitarian (@PhilipOgola) October 27, 2015

#askrotich did the TSC employ relief teachers with the 17billion meant for september salaries? — Evance Lusi (@Achola2) October 27, 2015

@ktnnews @jageyo @lindahoguttu #askRotich, could the cash crunch be a way of compromising courts not rule in favour of teachers?

— joseph (@josephndungu986) October 27, 2015

And on Wednesday, the controversy got deeper as human rights activist Okiya Omtatah, in a letter to different personalities and government offices sought clarification over the matter. Among those addressed is President Uhuru Kenyatta and his deputy William Ruto as well as Finance CS Henry Rotich.

Letter demanding full disclosure on the Eurobond from the GovernmentOKIYA OMTATAH OKOITI &NYAKINA WYCLIFE GISEBEROOM…

A screen shot of the letter. Omtata is seeking answers on the Eurobond saga. [Photo: Njenga Hakeenah]

Already, Omtatah is gaining support for the move with those on Facebook backing him.