Kibaki And The Economy: The Truth Please?

I appreciate all you wonderful folks out there who take the time to leave comments at this blog. Thank you very much. Even critical comments are very useful because they help me to stay on my toes and they improve the quality of information here because every time I sit down t write something I have to be sure of what I am saying.

I did predict recently that the Kibaki campaign team would go into overdrive over the improved economy and that is now already happening (by the way, I wonder how this campaign is being financed? Where is the money coming from? But that is a topic for another day.)

Today my question is very simple. What particular Kibaki policies have been responsible for improving the economy? Better tax collection, I hear you say. Ensuring that farmers are paid better for their produce, I hear somebody else say. My next question is, are this policy implementation moves or just administrative house-cleaning?

I hear somebody else say that the improved economy did not happen during the Moi era but has happened during the Kibaki one. I disagree. Former President Moi has in fact done much more single handedly to contribute to the current strong Kenyan economy than what Kibaki has done. Moi's contribution was the single move of handing over power peacefully and ensuring a smooth transition where the constitution leaves too much room and loopholes for abuse. And even when he and his much hyped "project" had lost the election badly. This is something Kibaki is yet to achieve and going by what is currently happening I doubt whether Kibaki would do the same if he happened to lose in 2007. I wait to be proved wrong. Regular readers of this blog know that I am rarely wrong.

What corrupt Moi did in December 2002, after running down the economy for 24 years changed the investment climate in Kenya virtually overnight. All of a sudden investors started seeing Kenya in a totally different light. The massive foreign exchange inflows that resulted and continue to date is what has changed everything. The results would have been more or less the same and maybe even better had somebody else from the opposition been elected president. I don't want to drop names as all hell will break lose, especially If I dare mention some names. So let me just say that things would have been a lot better if for example I had stood for and won the presidency. My biggest asset? I would not be thinking in the 70s.

The one attempt at improving the economy that I remember was the pitiful attempt to reduce interest rates, the idea being to promote borrowing amongst ordinary Kenyans. That one worked well in the 70s, it will never work today for obvious reasons. Interest rates crept right back to almost where they were. Which is just as well because that way the country is able to attract the tons of foreign currency that are mainly responsible for the much hyped 5.8% growth.

I am not the only one with this verdict on the Kibaki error. None other than former chairman of the Constitution of Kenya Review Commission Prof Yash Pal Ghai in a statement this week has called the Kibaki administration ineffective. That is putting it mildly.

Ladies and Gentlemen we have in our hands an administration that has blundered its way round things for 4 years, during which some of its' members have acquired vast wealth and during which Anglo Leasing happened (only to be blamed on the Moi administration, which means John Githongo should have his head examined for imagining a scandal that never actually happened). The most effective thing about this administration has been its' current well iled and well financed propaganda campaign that has almost convinced even me that the Kibaki administration has been responsible for the improved economy.

The choice for Kenyan voters in this election will be simple. It will be between going for real change or re-electing the wazees for another 5 years of blundering ineffective government (remember they had to call Moi in to help) and claiming credit for the hard work and sacrifice of gallant Kenyans.

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