Eurobond debt, Magoha-Knut war, KRA arrests: Your Breakfast Briefing

In Summary

• The stories making headlines in the Star this morning.

EACC headquarters in Nairobi.
EACC headquarters in Nairobi.
Image: FILE

Good morning,

The multi-agency team leading the fight against corruption has decided to seize all assets and freeze all accounts of corruption suspects as soon as they are charged in court.

Suspects will be required to prove to the State how they acquired the assets before they are released to them.

Those unable to account for every shilling and all assets will lose them to the State.

Here are the other stories making headlines in the Star this morning.

MPs to probe 'fishy' Sh2.8b ICT fibre project

MPs have begun investigating the Sh2.8 billion fibre optic cable project over fears that the government got a raw deal from the tender.

The National Assembly’s Public Accounts Committee chaired by Ugunja MP Opiyo Wandayi yesterday directed ICT ministry to furnish the committee with all contract documents the government signed with the Chinese firm for scrutiny.

Fresh Eurobond drives up Kenya's indebtedness

The new Sh210 billion Euro-bond raised by Kenya on Wednesday is most expensive of all, putting to question the government’s promise on debt sustainability.

According to the 2019 medium-term debt management strategy issued by the government in February, Treasury CS Henry Rotich promised to cutback on expensive foreign loans to ease the repayment fears.

When not all that glitters is gold

Not all that glitters is gold. Old as the adage may be, very few people seem to heed.

In the recent past, fake gold has flooded the market, with many victims approaching security agencies for salvation.

There had been a sudden upsurge in the supply of fake gold and currency in Nairobi, and indications are that police are swimming to the deep ends to catch the big fish.

Knut, Magoha war threatens new syllabus

The implementation of the new curriculum is in limbo following a vicious war pitting Knut secretary general Wilson Sossion and Education CS George Magoha.

In a no-holds-barred attack, Sossion yesterday ordered teachers to boycott teaching the new curriculum and instead revert to the 8-4-4 curriculum, in what could be a major setback to the state's plan.


Arrests at KRA linked to Njiraini succession, say staff

A section of Kenya Revenue Authority staff claims that the arrests of the over 80 of their colleagues were instigated by the race to succeed the outgoing commissioner general.

According to KRA sources, some senior officials hell-bent on succeeding John Njiraini have orchestrated the arrests.