Connect with us

Entertainment

Loan-thirsty Uhuru to leave Kenyans with Sh7 trillion at end of term

Published

on

Loading...

[ad_1]

President Uhuru Kenyatta. PHOTO | FILEPresident Uhuru Kenyatta. PHOTO | FILE

By CONSTANT MUNDA, [email protected]

President Uhuru Kenyatta will accumulate nearly Sh2.13 trillion in more national debt by the time his final term ends in August 2022, Treasury projections show, signalling increased pressure on taxpayers’ funds.

Treasury chiefs project in a draft Budget Review and Outlook Paper that the total debt will jump to nearly Sh7.17 trillion in the year ending June 2022, from nearly Sh5.04 trillion in June this year.

If that comes to pass, Mr Kenyatta will have contracted at least Sh5.27 trillion debt to implement his manifesto in 10 years in power after he inherited slightly more than Sh1.89 trillion in June 2013.

INCREASED SPENDING

The Jubilee administration has increased spending since 2013 to build much-needed new roads, a modern railway, bridges and electricity plants, driving up borrowing to plug the budget deficit.

Loading...

The increased debt has seen Kenya commit more than half of its taxes to repaying loans, leaving the State with little cash for building roads, affordable housing and a shot in the arm for the ailing health sector.

The public debt stood at Sh5.04 trillion in June 2018, up from Sh4.41 trillion in June 2017, Sh3.62 trillion in June 2016, Sh2.83 trillion in June 2015, Sh2.37 trillion in June 2014 and Sh1.89 trillion in June 2013.

Mr Jibran Qureishi, a regional economist for Stanbic Bank, said growth in public debt had partly been driven by over-budgeting, leading to ambitious tax targets that had largely been missed.

INCREASED APPETITE

The projected collection figures, he added, had increased the government’s appetite to continue spending without corresponding impact on economic growth.

“When you do that (have ambitious revenue targets) from the beginning, you feel like you have enough room for manoeuvre when it comes to expenditure, but reality is you are not going to achieve that tax number,” Mr Qureishi said.

“By the time you realise that you have already spent quite a bit. This has been a problem for about six fiscal years.”

The growth in the public debt has raised concern that the ballooning repayment costs are hurting economic activities by taking up a large chunk of government revenue.

Treasury Cabinet Secretary Henry Rotich plans to spend Sh870.5 billion on debt repayments up to June next year, from Sh435.7 billion for the year ended June 2018 against expected taxes of Sh1.76 trillion.

Mr Kenyatta will leave office in August 2022 if the presidential poll outcome will not be disputed.

For the period to June this year, foreign commercial banks accounted for 37.85 per cent (Sh968.9 billion) of the Sh2.56 trillion external debt.

[ad_2]

Loading...
Continue Reading

Entertainment

Singer speaks after attacking lover at WCB signee Zuchu’s star-studded concert

Published

on

Loading...


By Standard Entertainment



56 minutes ago

Controversial singer Gigy Money turned WCB signee Zuchu’s concert into a fight club, hurling shoes at her lover.

On 18 July, there was fanfare at the Mlimani City Hall in Dar es Salaam as WCB signee Zuchu held a thanksgiving concert months after her debut EP, I Am Zuchu. The event dubbed ‘Ahsante Nashukuru’ mainly featured performances by artistes from the WCB stable and attracted the whos-who in the Tanzanian entertainment and political scenes. 

READ ALSO: I’m not behind Diamond, Tanasha split- WCB’s Zuchu sets record straight

However, singer Gigy Money who also performed made the headlines for the wrong reasons after getting into a scuffle with her lover during the much-publicised concert.

READ ALSO: I was bewitched by a friend – Gigy Money

Peaceful arrival, later chaos

Moments earlier, Gigy and her Nigerian man were seen arriving arm in arm at the event whose highlight featured Zuchu receiving a brand new car from WCB head honcho Diamond Platnumz. Donning matching outfits, the couple was spotted on the red carpet as the paparazzi scrambled to capture the moment.  However, all hell breaks loose later and viral videos depict the visibly angered Nigerian arguing with a bouncer at the entrance. After a tense confrontation, Gigy’s man is seen being led by the screaming bouncer towards the exit. Shortly after, a similarly irritated Gigy emerges and follows the pair.

“Gigy! Wewe Gigy wewe!” a woman in the background is heard dissuading the singer from pursuing them but the singer pays no heed and heads for the pair.

“You want to beat me?” the boyfriend is heard asking an approaching Gigy as the bouncer acts as a barrier between them. The bouncer manages to steer the incensed man towards the exit as Gigy follows behind, hurling obscenities.

READ ALSO: I will get a baby with your eldest son – Gigy Money warns Zari

Loading...

At some point, a barefoot Gigy turns into a sprint before throwing one of her shoes which hits the man who then responds with an insult. Another bouncer finally intervenes and the two are separated. Gigy then asks for her vehicle so she can head home before warning the press against sharing videos of the incident.

Addresses incident

Though the cause of their tiff is still unknown Gigy later made reference to the shocking incident in a social media post, hinting that alcohol had a part to play in the fracas.  In another post, Gigy shared a photo alongside her estranged lover writing: “My mad man looked handsome before his demons arose and mine arose too.”

‘Running over Ali Kiba’

Gigy is not new controversy and recently said she’d run over her ex, singer Ali Kiba for breaking her heart.

“I will knock all of them down, I mean I will kill them. In fact, I will flatten them like chapatis. The first person I will knock down and kill is Ali Kiba.  Actually, I don’t need a weak car, I need a Fuso so that when I knock him down I will be sure he doesn’t survive,” Gigy told Ayo TV.

READ ALSO: Gigy Money under fire for dirty-dancing with married singer

Dating Kiba brothers

Gigy had in the past admitted to dating both Ali Kiba and his younger brother, Abdu Kiba. She solely laid the blame on Chekecha singer for pursuing her despite knowing that she’d been with his younger brother. Abdu expressed being heartbroken after learning the two had a fling, prompting him to marry.

“I was very hurt on hearing that Ali was dating Gigy Money because I dated her first before she became famous. But it’s alleged that Ali didn’t know. It hurt me for a while till when I married,” said Abdu.

 

Loading...
Continue Reading

Entertainment

Defunct Nairobi County Council  Nurses Go On Strike, Citing Discrimination By The Government

Published

on

Loading...
Defunct Nairobi County Council  Nurses Go On Strike, Citing Discrimination By The Government

Continue Reading

Entertainment

Why Jahmby Kokai is happy her TV anchor dream never came true

Published

on

Loading...


By Diana Anyango



37 minutes ago

Jahmby Koikai is glad her dream of being a TV anchor never came true.

Popular media personality Jahmby Koikai narrated how her first attempt at auditioning as a TV host backfired and she was sent home on the first day of the audition. Reliving her prime days, Jahmby narrated how she was determined to follow her dream of becoming a news anchor after completing her degree.

“There was a reality show that was running on one major TV channel here in Kenya, searching for the next top news anchor. I’ve always had the knack for news. At the time, I was working at Metro FM. Walked to my boss and asked him if he was ok with me participating in this competition. He agreed to it.

“Auditions were at Film Studios. The queue stretched all the way to the showground. I was at the back kabisa. Imagine 300 people before you. Then we got the briefing paper and it indicated, ‘no persons with experience in a media house allowed to participate in this audition’. Mimi Jahmby Koikai, nirudi home after watu 300 kukuwa mbele yangu?” she posed.

READ ALSO: Jahmby Koikai back in Kenya after a year of treatment abroad

According to the endometriosis survivor, she went ahead to audition for the position despite the warning and was the first contestant to be sent packing.

“So I stayed in line until I got to the audition room. The judges were a few people I was in campus with. I felt a wave of despair. Like I’m here auditioning, yet my classmates will be judging me? I did my thing and I was considered. We got into the house and we were assigned to different groups. I was the group leader and we won the challenge. Later that evening, we were driven back to Film Studios for a briefing. The presenter of the show said some of us have to go home.

“My name was called out first amongst other great people. We were dropped home. I cried. It felt like I’d lost such a great opportunity. My mom and late grandma were so sad cos they loved to watch me do the news,” she narrated.

READ ALSO: Why I’m walking around with a mask- Jahmby Koikai

Second audition

Later, Jahmby auditioned for another TV opportunity only to miss out as well.

“Then came another opportunity over 10 years ago, I saw a TV ad and decided to apply for the news anchor position. I didn’t get the job.”

However, due to endometriosis, Jahmby was forced to put her dreams on hold and concentrate on getting better. According to her, it is as though God had better plans for her and is grateful to not have gotten the jobs.

“I battled severe endometriosis in silence for over 19 years. I think of how engaging the newsroom is and I’m grateful I wasn’t in that space. I’d have utilized all my sick-leaves and off-days and just declared redundant.”

 

Loading...

 

There was a reality show that was running on one major TV channel here in Kenya, searching for the next top news anchor. I’ve always had the knack for news. At the time, I was working at Metro Fm. Walked to my boss and asked him if he was ok with me participating in this competition. He agreed to it. Auditions were at Film Studios. The queue stretched all the way to the showground. I was at the back kabisa. Imagine 300 people before you. Then we got the briefing paper and it indicated, ‘no persons with experience in a media house allowed to participate in this audition’. Mimi Jahmby Koikai, nirudi home after watu 300 kukuwa mbele yangu? Nikasema zi. So I stayed in line until I got to the audition room. The judges were a few people I was in campus with. I felt a wave of despair. Like I’m here auditioning, yet my classmates will be judging me? I did my thing and I was considered. We got into the house and we were assigned to different groups. I was the group leader and we won the challenge. Later that evening, we were driven back to Film Studios for a briefing. The presenter of the show said, some of us have to go home. My name was called out first amongst other great people. We were dropped home. I cried. It felt like I’d lost such a great opportunity. My mom and late grandma were so sad cos they loved to watch me do the news. Then came another opportunity over 10years ago, I saw a TV ad and decided to apply for the news anchor position. As you see in this pic, I got my hair done at Ralph’s Hair Salon, new suit etc. I didn’t get the job. After KBC, I never got to anchor the news again. I’m grateful I did not get the job even though I felt dejected at the time. I battled severe Endometriosis in silence for over 19years. I think of how engaging the newsroom is and I’m grateful I wasn’t in that space. I’d have utilised all my sick-leaves and off-days and just declared redundant. There are many people like me who are bound by chronic illness and cannot do the things they love. I share your pain. But there’s hope. I’m grateful to God for His reminder that He will restore to you all the years that the locusts have eaten. Also Jer 29:11

A post shared by Jahmby Conqueror (@jahmbykoikai) on

Loading...
Continue Reading

Trending