PUBLIC DEBT MANAGEMENT

[PHOTOS] Okoa Uchumi coalition protests Kenya's ballooning debt

The lobby group accused treasury of lack of accountability in public debt management.

In Summary

• The petition stated that that under CS Yatani’s watch, the National Treasury has been using overstated data to inform its microeconomic and public debt policy.

• Olal said the team was representing the common mwananchi and the reason for the protest was because Kenyans are tired of the president’s habit of borrowing too many loans and that they are not ready for more.

Activist Wilfred Olal during a peaceful demonstration with members of the public and conveners of the OKOA Uchumi Coalition at National Treasury house on December 9, 2021.
Activist Wilfred Olal during a peaceful demonstration with members of the public and conveners of the OKOA Uchumi Coalition at National Treasury house on December 9, 2021.
Image: MERCY MUMO

Okoa Uchumi coalition on Thursday, December 9 held peaceful demonstrations in the Nairobi CBD to present a petition to Treasury CS Ukur Yatani at the National Treasury building.

The coalition members were joined by activist Wilfred Olal, TISA national coordinator Wanjiru Gikonyo, and University presidents chair Albert Maloba among other members.

During the protest, Olal said the team was representing the common mwananchi and the reason for the protest was because Kenyans are tired of the president’s habit of borrowing too many loans and that they are not ready for more.

Members of the public lead by TISA National Coordinator Wanjiru Gikonyo present their petition at National Treasury house on during a peaceful demonstration on December 9, 2021.
Members of the public lead by TISA National Coordinator Wanjiru Gikonyo present their petition at National Treasury house on during a peaceful demonstration on December 9, 2021.
Image: MERCY MUMO

“We are here to represent the common Mwananchi. We as members of the public will not allow the president to borrow more loans as we are already overburdened by our current debt status," he said.

Wanjiru in her speech said that the petition was made for CS Yatani asking him to resign from his current position.

“This petition is to politely request CS Yatani to resign from his duties since it seems like he is overburdened by his responsibilities as Treasury CS," she stated.

University presidents chair Albert Maloba and activist Wilfred Olal during a peaceful demonstration with members of the public and conveners of the OKOA Uchumi Coalition at National Treasury house on December 9, 2021.
University presidents chair Albert Maloba and activist Wilfred Olal during a peaceful demonstration with members of the public and conveners of the OKOA Uchumi Coalition at National Treasury house on December 9, 2021.
Image: MERCY MUMO

The petition stated that that under CS Yatani’s watch, the National Treasury has been using overstated data to inform its microeconomic and public debt policy.

"The use of loans to finance recurrent expenditure contrary to the PFM Act 2012 section 15 (2)(C), lack of accountability of the Eurobond contracting and expenditures, failure to resolve past audit issues, failure to maintain an updated and comprehensive public debt register," reads the petition.

"lack of accountability in public debt management and giving inaccurate information regarding financial matters contrary to section 204 of the PEM Act."