Jimmy Wanjigi on Kenya's Debts; The Big Picture Episode 3
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- Опубликовано: 2 окт 2024
- In this episode of the big picture, Africa Uncensored's John- Allan Namu talks to businessman and politician Jimmy Wanjigi on Kenya's debts.
#TheBigPictureKE season 1 link: • The Big Picture Show w...
#TheBigPictureKE season 2 link: • The Big Picture Season 2
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![INDEBTED: Kenya's Journey to a Debt Crisis [Part 1: The Men in the Arena]](/img/1.gif)
This Finance Bill is like giving a drowning man a swimming manual to read
I really enjoy these types of conversations where you let the guests speak their mind. It allows us more insight and ways to catch the bs
Why don't we have Jimmy, someone from the Central Bank and the Treasury together so they can answer Jimmy's claims.
Coz truth can get you into a Subaru or worse
Since it sounds the bear truth, the treasury can be embarrassed so the establishment may not allow such a conversation between a brilliant guy, Jimmy Wanjiki and a high level government official
Omtata, Wanjigi
Currently Kenyans
best friends!
Our country needs these two wonderful individuals
Jimmi is one guy I respect. He has cut his teeth off a political legacy of the father, into business and his bid into politics has given him righteous anger against BAU government excesses for the good of the humanity in Kenya
i love how level-headed and composed Jimmy is and how adapted he is to fierce questions and his ability to calmly explain his points
with all due respect john is way out of his depth. He said some quite stupid things and never got the depth of things such as jimmy's allegiance with and protection of the banks who he claims are at the brink of insolvency. he deflected attention at that point.
What Jimmy Wanjigi is talking about is not new. In 2020, the UN Conference on Trade and Development released a report highlighting how Africa looses between $88.6 to $100billion every year through IFFs (Illicit Financial Flows) which are illegal under international law but guess who the beneficiaries of this loot are according to the report? The US, UK and The European Union. So Jimmy is right when he says money Kenya has been borrowing has not been utilized for what it was borrowed for. The international financial systems are intentionally set up to disadvantage Africa for the sole purpose of keeping Africans in debt while natural resources and generational wealth is spirited out of Africa and onto offshore secrecy jurisdictions owned by the US and the UK. It is a form of organized exploitation on an industrial scale done under the guise of "trade partnerships"
Well said. And then they (UK, US and EU) run around making so much noise about how Africans are corrupt to deflect from their own thieving ways. Yes, our leaders are corrupt, but they are making off with MILLIONS whilst these European bandits are making off in BILLIONS (sterling/dollars) due to UNFAIR TRADE PRACTISES (dodgy accounting resulting in reduced corporate tax payments, unfair application of Intellectual Property Rights) and HIGH INTEREST T RATES never mind our resources easily provide adequate collateral for the loans.
You get the real picture not what is put forward for mass consumption...Am certain even Jimmy's real wealth is not in Kenya... people don't realise the true nature of Capitalism.
It is very frightening to listen to this very frightening analysis of this very frightening economic plan or a lack of it.
This has been quite insightful for someone without a background in economics. I appreciate Jimmy's clear and concise language and manner of expression especially how he handled John's seeming fixation on setting the context of Kenya's debt problem to a corruption issue. I especially appreciated Jimmy confining the discussion within the context of the problem statement. I think such calmly orchestrated discussions would do us much good as a country in terms of identifying problems clearly and then working out the solutions to them.
Kudos John and team for putting this together. This is my first interaction with your content on RUclips and I pray that you maintain such professionalism and calibre of guests
Who benefited from the debts?
I am glad you guys called him out on Reagenomics.
Allan Namu,that seating arrangement is extremely wierd! Do not ever introduce two people who are not seating or standing face to face.
I've listened to Jimi since spice. He makes a lot of sense. Dear youth, if ruto signs this finance bill we are messed up.
He has signed it already.
@@AfricaTake2And now we are messed up!
don't forget that he is a billionaire. where have there been kenyan billionaires that didn't do so at our expense? He too has no vision and a political agenda which is not to question his position of power, irrespective of his merit or the functioning of any system whereby someone like him is powerful.
Ur lighting kwani ni bedroom ya sudi buana....improve the lighting
Jimi has said this since last year but we didn’t listen. Sasa kinaturamba 🙆🏿♂️
This matter is simple. Jimmy Wanjigi go to court have the debt declared odious and have the court declare that the "odious" debt cannot be paid because it is illegal.
The courts are in bed with the government.
Not with zakayo's judiciary
@@walenisi9278 people behave as if the judiciary is now captive of the executive
@@njuenjagi4983 yeah,it is captive.Look at how many cases they were directed to drop
@@walenisi9278 you are confusing DPP with the judiciary
We don't want to admit it, and we probably never might but this guy should be president of this country tbh, since Kenyans aren't bold enough to thoroughly vet their leadership, at the very least. He's the only guy we've seen with tangible workable solutions.
No difference same wolf, just different seasons
@@davidnicky9161 well said, he was quiet when he was eating behind the scenes, he only started singing once his nose was pushed out of joint (trough).
@lekis5975 kenya is doomed, I pity that country. It's a shame brother....the change needed is not gonna work through democracy or street protest led by the hypocrites. Looming blood shed😥 am afraid
Please invite him for part two, seems like he has more to talk about from the inside of the beast!
Exactly 💯
Fact checker in an odd position?
Declare default on the external portion of the debt. Renegotiate it. The local portion stands as is to avoid bank runs. Audit the entire debt for transparency.
The only politician left in Kenya who is telling us the truth.kenyans protect this man at all costs
Kenya need bright guys likeJimmy,i have your vote 2027 bro kudos❤
Wanjiki's party need to be supported by all Kenyans
John Namu didn't prepare for this interview, arguing about the percentage of debt to revenue is odd considering the figure is black and white, going forward, Jimmy should have such interviews with interviewees who understand basic finance and economics and let the true essence of the interview come forth.
He learns, let's give him grace.
Absolutely! With all due respect to John Namu, it is clear he was at different wavelengths with Wanjigi, who had prepared for the interview thoroughly with facts and figures.
Very true. John kept interrupting jimmy when hes trying to make a point. I think he shouldn't have been talking at all and just put the questions in print for us.
They were both well prepared for the interview. They are "unknowingly" arguing about different sides of the same coin. John Allen Namu is referring to the ratio of Debt-to-GDP. This is the most often used ratio. But as Wanjigi has explained in a different interview and mentions it lightly here, it does not capture the true burden of debt.
Wanjigi is referring to Debt-to-Revenue ratio, which as he says is a better metric. And I agree with him.
Even as an individual, would you rather "feel" the burden of your debt as a ratio to your revenue/income or as ratio to all goods and services that you buy (GDP)?
So they are both correct, but just arguing about whether the coin is the "heads" side or the "tails" side.
Debt to GDP is around 63%, but Debt to Revenue is over 80%.
Uhuru screwed us up. Jimmy get a degree. Be on that ballot. Mimi nitaamka asubui kupiga kura. While on it chukua ekuru okot as your vice president.
Keep coming back to this interview because this is really a very god one. Things are well-explained. And done in a relaxed atmosphere.
I get even more from this when I shift back and forth between here and SpjceFMs The Situation Room which has Wanjigi on quite frequently (as well as others with economical insight).
Now, 5 months down the line from this interview, it would be great if Africa Uncensored and The big Pcture could bring Wanjigi back with an update. What is happening now?
as of September 2023 - the number is 83% verified by the auditor general
Back then 23:50 he was talking of ksh .120
Rynnow 26th Jan 2024 its ksh. 163.5 to the $.
During kibakis time corruption was still there. Listen to wanjigi
I wish Kenyans knew how Jimmy is right
Very good conversation. However being a trained journalist like John Namu, you tend to curate content too much and limit to a timeframe of one hour or so just like the mainstream media. Please @John Allan find a way to re-learn and unlearn from your trainings and be open to the era of the free internet and take us to the story. I feel you were tired and was not ready to go where this story required you to take us even if it would have been five or 10 episodes. You summarized and concentrated every thing so much instead of going just the way Joe Rogan and others in similar spaces do their craft. I beg! Consider bringing on Wanjigi, Omtata, Former CBK governor - Njoroge, or Thugge, Ndii, Kwame Owino and any other economists into a panel that will have discussion - sort of an easy debate around debt governance and economy. Take us into that dark rabbit as much as possible even if it takes 20 episodes - mind you it doesn't have to be timebound. The public needs more accurate information as much as possible
I hear you. We felt that at 1hr 30 the conversation was pretty long, but we take your feedback and will work on getting more
I love this conversation but I find John's fixation on corruption as a bit exaggerated. I think that corruption is number 3 on the things ailing the government. One is wastages, two is civil and public servants not following the law and three is corruption.
For the 1st time a knowledgeable journalist engaging Wanjigi.....God Job Allan!
Thank you Jimmi 👍🏽
Government can’t do business ,what will the private sector do when government does business that’s where you have the conflict of interests.
Production quality esp. on Audio can be better planned
Jimmy you're right,most are closing business for being over taxed.
Thank you very much for this podcast.Its quite enlightening and I am very happy that as a country now we're talking about our debt situation and I'm sure in not a very far future those responsible for looting our country will pay or stop.Its a new awakening.
And who is going to hold the looters accountable???
I could almost cry .....
This is the first time in 10+ years that I have heard a Kenyan so visionary. A Kenyan with possible solution to a devastating situation.
I don't say this easily but I honestly think that Wanjgi is presidential material. Certainly, he wold make a great senior advisor to the next, the NEXT, president.
I am sorry that I didn't find this interview earlier.
And this is coming from a Scandinavian mzungu who never woke up thinking "where is the next meal coming from", "how can I pay school fees". But my Kenyan husband's family did.
I love listening them...they are smart
Thank you for this. Now I get it 😮
The presenter is buff. Nice😊
Love the interview. Please work on the lighting in the studio this one who very dull.
Kenya's institutions are not truly independent. That is what the problem is. Jimmy Reaganomic was a failure. He demolished manufacturing in US. Jimmy I was with you until you invoked Reagan. Reagan created the rich and poor class in US. He shrunk the middle class. Most middle class moved into the poor class.
Indeed, Reaganomics much like Thatcherism (free market economics) was toxic. Thatcher annihilated the working class, to this day they have never recovered, they morphed from working class into the underclass (perpetually dependent on benefits) ; unemployed and unemployable).
At this rate, the day is closer when the poor will eat the rich.
How can one get Jimmy's audit?
He has my vote in 2027❤
Naskianga izi vitu ya mara economic theories/policies ni kaa zinakuanga stori za jaba.. anyway more endeavour on people understanding money, inflation sijui quantitative easing ....
What could be the implications of Kenya Uganda & TZ & maybe Sudan having one currency good or bad. Also open up these borders for free trade.I think this discussion should be brought forward....
No wonder this guy Wanjigi has been under attack from the previous regimes.
Hey boss, this man is very learned and visionary, he is well informed, has great ideas to steer a country in progressive ways
This Jimmy Wanjigi is one of the richest people in Kenya, iam sure is within 20 richest in Kenya. Where did he get his money. He is known to have worked anywhere, the only known connection is his father was Minister in the old Kenyatta time. The only other thing he is Known for is middle man for big tenders else, when he talks about curruption it is laughable
Unlike all the other corrupt people, Wanjigi has a vision and offers solutions.
Great interview but Those seats look so low and uncomfortable .
Jimmy Wanjigi's insights on Kenya's debts is truly enlightening and commendable. His in-depth analysis and thoughtful perspectives shed light on the complexities of the country's debt situation, presenting an understanding of the challenges and potential solutions.
Wanjigi's expertise and understanding of economic matters is evident throughout the episode, and his ability to articulate the issues in a clear and accessible manner is truly impressive. It is encouraging to see individuals like him actively engaging in discussions about the country's economic well-being, as it indicates a commitment to finding sustainable solutions for the nation's development.
Moreover, Wanjigi's positive and forward-looking approach when discussing the debt issue showcased a genuine concern for Kenya's progress and prosperity. It is essential to have individuals like him who not only identify problems but also offer constructive ideas and strategies to overcome them. His positive outlook serves as an inspiration to others to actively participate in shaping the nation's economic future.
This is good journalism, Jimi is right, default may be the best way forward.
Jimmy all day..
Kenya is now in a debt trap and those involved should either pay that debt and that the citizens should no longer pay any taxes.
Those who took the loan should pay back the loan from their own pockets.
Jimi (and others) knows exalt who they are.
But he can never tell. It would be a death sentence.
This is really insightful. Helps one understand where we are as a country. Thank you Allan Namu and Jimmy Wanjigi
Jimmy is a sharp guy the way he knows how to speak his mind and articulates things better and he reads a lot
Let's do part 2 of this.
Come 2027 lets make sure we have alot of very new guys running for the top seat, salvation will come from those who have not gone through the system of corruption
Give room for those who want to run for office room to sell their vision and make it clear as early as now don't wait for 2026/7.
Lets groom the leaders we want,its possible
someone listen to this guy in the government wajameni
Thank you for bringing up the failures of Reganomics on regular folks. Of course Jimmy would think it great because it benefits people in his class the most.
Love Alanamu. Brilliant questioning. Love Jimmy. I wish Kenyans had elected you President to see what you would have done.
But jimmy was not cleared to be at the budget
Na bona last campaign walikua wana tuambia ati jimmy wanjigi haku soma
Hana degree... its true,
But at that time alikuwa anamalizia pale Daystar.
Wewe huna akili kwani?Lazima uambiwe na mtu?
ALLEN LISTEN TO WANJIGI.WE MUST HEAR THE TRUTH ABOUT KENYA'S ECONOMY WOES AND THEN DECIDE THROUGH UDA GOVERNMENT THE SOLUTIONS OFFERED BY WANJIGI MUST BE CONSIDERED BY UDA. GOVERNMENT IN ADDITION TO UDA'S SLOLUTIONS .
unfortunately many people open up when comfort/privilege is taken away ,its the normal in Kenya .Jimmy Made money from Kibaki time ,Uhuru time a bit .Now the shift has come and he feels "left out"
we refuse to talk when we are benefiting in a way. Humans are selfish .
Scarcity mentality is a disease in Kenya ,a country where people only see ugali as the only food ,they dont know Ngwaci,arrow roots,pumpkin etc
Supply side economics has to twist your mind. Job za serikali wanatengeneza masikini. Sisi ndio tunacreate jobs. Sisi bin Adam. Sio wadosi wanaringa kama Ruto!
I've been following Jimmy interviews closely and what I concluded is trillion s of shillings were looted by individuals both in former gov and current one jimmy have open our eyes but the battle is going nowhere
Artist amechora jimmy jibaki instead of jimmy wanjigi😂
And huyu jamaa anamchora nani🙊🙊🙊🙊
Why is the 3rd guy seated behind the guest when they would engage at some point during the show?
Improve on lighting sound and sitting arrangement...but good journalism..
AAAh we wacha tunaanza bottom tukienda up even joe biden agrees that reganomics has been there for long and only benefitting the wanjigis.Bottom UP is Capital Intensive sure but itajipa,.....Wanjigi and dynasty ,watch the common mwananchi make it without your brokerage
Kenyans should stop thinking this is about Azimio and KK but our very own existence...
@Africa Uncensored, how do we get this information to majority of us?, I'm concerned about the number that has watched so far,if we are going to maandamano we need these kind of reasons embedded and littered all over this insight, not personality issues demos, i would be glad to understand and know how i can help to inform the sovereign ...
Supply Side Economics (SSE) lies within the Neoliberal economic order which has been on the wane since the financial recession which started in 2008. The Neoliberal economic order has been associated with deep levels of inequality and poverty. Key features of SSE is low taxes, tough war against addictions, and opposition to labour. It favours those with high incomes and wealth. It ultimately leads to high imprisonment, an impoverished public sector, decaying public services and infrastructure, as well as anti-poor and anti-labour perspectives. Kibaki squarely subscribed to neoliberal economic thinking but certainly he was not in the SSE camp.
I won't feel comfortable facing one in front and one in my back facing my back. Change the format
ALLEN NEXT TIME CALL JIMMY AND ONE TREASURY GURU AND 1 CENTRAL BANK GURU TO COME AND ANSWER JIMY'S QUESTIONS FOR KENYANS TO UNDERSTAND THEIR TAKE?
candid and enlightening. exposure is mental growth
Improve on your sitting arrangements, why does the other guy need to sit behind Jimmy! Good content though.
Who is answerable? We need to put people into account..if things have to change.
waiting for you to hit 100K subscribers. Cheering you on
Let Omtata present this BIG QUESTION at senate to seek answers
Respected
John thanks for this insightful content
Who's here because the dollar hit 150?
Jimmy was great, but his praise of Regan messed it up for me.
There is too much echo....need to jave more clear audio
A good video but work on the quality of its audio.
Allan, sometimes you seem to compete with your guest.
Bloody hell at least sort out ur set!! Typical 😂
It’s a good conversation that needs to be done by all means… People have to take responsibilities for their actions…
On what basis do you invite him to your studio
Check out 2022/23 Treasury's budget 990billion was provided to repay debt and interest. Against 3 trillion budget (expenditure). 33% of our budget is used to repay debt and interest.
How much of the budget is coming from our revenue?
Y’all are sitting in the dark
The sentiments that have been canvassed and the concerns that have been raised cannot be overemphasized. Great conversation even eye opening.
I disagree with Jimmy on that Reganomics argumet. With the exeotion of banking the rest have been alot of public property that was put in the hands of a few who have continue to create barriers for entry in the name of profits.. Jimmy should really change his stand on reganomics.
Also we dont like Biashara we have to BIASHARA!
Wisdom embedded in experience....God bless you Jimmy
Good interview, very informative.
brilliant journalism
Work on Tom's audio
The government was getting alot of billions from outside for COVID cusion. Where did all that money go to?????