Raila: Govt to pay mysterious brokers Sh15bn
What you need to know:
Mr Odinga questioned the rationale behind the government choosing Citi Bank and Standard Chartered Bank of the UK as opposed to other lenders like the African Development Bank whose terms, he said, were more favourable.
“We are aware that this loan is the sole reason President Uhuru Kenyatta was upbeat three days ago that the economy was in good shape and that the opposition and Kenyans were simply whining. We are staring at a classic case of digging a hole to fill another,” said Raila Odinga.
Opposition chief Raila Odinga on Tuesday said the government planned to pay up to Sh15 billion in kickbacks to brokers who helped negotiate a Sh61 billion loan to fund infrastructure projects.
In a statement, Mr Odinga said the loan agreement clearly spelt out the amount of the kickbacks to be paid to mysterious brokers.
He said the deal was signed last Wednesday.
“We are aware that this loan is the sole reason President Uhuru Kenyatta was upbeat three days ago that the economy was in good shape and that the opposition and Kenyans were simply whining. We are staring at a classic case of digging a hole to fill another,” he said.
“This new loan, like the Eurobond loan, has many loose ends and many aspects that need to be explained.”
“Information we have is that in total, up to one quarter of this loan will go into commissions for negotiators and brokers.”
UK LOAN
Mr Odinga questioned the rationale behind the government choosing Citi Bank and Standard Chartered Bank of the UK as opposed to other lenders like the African Development Bank whose terms, he said, were more favourable.
He challenged the President to disclose details of the new loan.
