So, Kenya’s Finance Minister, Uhuru Kenyatta, has basically issued gag orders for Senior Treasury Officials – no-one is supposed to comment on policy issues, and he, Uhuru, will serve as spokesman, sole spokesman for both the ministry of Finance and the State corporations under it – notwithstanding the fact that those are supposedly autonomous bodies. Technocrats in Treasury are barred from communicating directly with parliament as well.
Pardon my long sentences – its how I would say it if I was speaking.
I am not angry, and I suppose Uhuru has to do what he has to do to cover his ass; Now he can, after he gracefully appended his signature to documents, THE BUDGET, with errors to Parliament. Now he can, now that the errors were actually discovered; now he can since everyone is wondering just how some things can conveniently become “typing errors”. What if the “typing” errors were not “discovered”? I think we as a country are beginning to embrace new levels of shame – bila aibu!
My only question is – Alikuwa wapi? Forgive me, but – whatever dude!
For those of us that work in Finance, we KNOW for a fact the hair raising activities, double checks, triple checks, formulation of algorithms, backward testing of data etc that goes on before the Financial Statements are declared good – before the statements are rendered to be an accurate representation for the financial status of an entity – and that is even before the signing of the statements, and then the presentation of that happens and that is way before the auditing part begins!
SO forgive me if I don’t even begin to buy into Mr. Uhuru Kenyatta’s misplaced and reactive anger and measures – that is just a plain and lame show! As Finance Minister, you should have known better – or the people that work for you a.k.a, the people that are paid millions in tax payer money – should have advised you better! (If you choose to abdicate your responsibility and take that route)
This situation we have going on here – should not be happening! Bottom line – Ahhhh, Tuheshimiane tafadhali! And I am sure I have Finance PhD’s, MBAs, CFA’s, CPA’s, Economists, Analysts, your regular “Joe the Plumber” with no Finance technical know-how that will say, this here, is a bunch of BS!
I have had the opportunity to work in our financial markets in Kenya before I left for Grad School and subsequent career opportunities in “Diaspora”. And, I have always known at some point in time – I intend to return to Kenya because – just because. I won’t go into the reasons why – because that is a LONG story.
But, assuming, I would return, not go into entrepreneurial activity and end up working in our financial markets yet again – God forbid I have to deal with such nuances!
I think about it this way – I have worked pretty hard to know what I know today and what I keep learning each day – I simply do not have the strength to fight “forces” that will definitely seek to “gag” what I have worked so hard to understand and know!
You know, there is a very good reason why we will keep losing people that we have no business losing to other nations – it is such “Uhuruish” stances!
And before anyone goes telling me the noble thing to do is “make it work while you are home” – I beg to differ, I believe there is, always, a more excellent way! And this typing error business is simply not it! I am just saying! And like Kaasa – I have to wonder if I really want to…….
And what about Raila’s maize-scandal dismissal, or are you just another ODM blog only seeing specks on the other-side?
Wonders never cease!
Gag orders, clearly he has something to hide. Given what has happened this month in his ministry, who in their right mind could count on his word??????
Just another way of masking his incompetence.
Hi Cynthia 🙂
I was pissed as hell. The kind that turns you red even when my skin pigment does not allow me to be red. I heard him claim ‘typing’ and could no longer read. I started typing my next post.
Of course Uhuru cannot tell the difference btw a Balance Sheet and an income statement but when parliament let him off the hook saying that it was the accounting software that they use at treasury to blame; I wanted to punch somebody. They actually bought that.
Worse still, they went ahead to blame the technocrats Cynthia. Can you imagine somebody blaming you because they too stupid to understand your work. As I wrote, nobody put a gun to his head and forced him to append his signature on that budget. Nobody forced him to defend it in parliament.
So you see Cynthia, with things in a such disarray here, using your intricate knowledge of derivatives, options, futures and the likes would not help here. There is a different code here and the very corrupt get the biggest profit margins – hard smart work won’t pay here as things stand here. And then those actually qualified enough will be to blame.
Your are right on the money when you say “There are Finance PhD’s, MBAs, CFA’s, CPA’s, Economists, Analysts, your regular “Joe the Plumber” with no Finance technical know-how that will say, this here, is a bunch of BS!.”
Regards 🙂
Marvin
I think what this shows is that our ‘esteemed’ minister of Finance is too busy politicking to do his job…or maybe he doesn’t really care.
If this was a financial statement of his own money I’m sure he would have gone through it with a fine tooth comb, but since it is public money, he probably just signed whatever was put before him by his staff without checking it.
I wonder too what would have happened to the extra 9 billion once the budget had gone through…am afraid to even imagine (maybe it was for Elections 2012)
Some clarification: Judging from the number of comments I have had to not approve – Maybe I should say this is a post based on what I know about Finance and accounting procedures: That “typing errors” usually WILL not fly! That’s all! This is why it is filed under Finance and Economics!
This is NOT a post based off my political affiliations – or lack off. I simply do not have the time or patience to engage in never ending, not going anywhere and often one sided discussions about people and their parties/ politicians of choice.
This here – my friends – is an observation about a critical statement of any Financial Entity – THE BUDGET – and why I know the explanation given by our Ministry of Finance, then Parliament is very……..not feasible.
Thanks all for visiting… 🙂
@MaleView Thanks for your comment and question – This is a Finance Post – I was not addressing the Maize Scandals et al – I believe there are other people that have chosen to do so in their respective blogs. I choose to write about things that I actually know about – one of them is Treasury and Finance Stuff. My badd if your favorite politician happened to “happen” in the midst of this post. 😉
@ Tamtam – Haki – wonders never cease! Enough said! We can say this in all kinds of convoluted ways – but the bottom line is – Seriously!!!!
@ Marvin – Hi Buddy! Habari ya kusoma CFA? Me – I usually turn “Purple” Lol! And thanks for the confidence that I actually know what I am talking about as concerns derivatives etc – This is a never ending journey and I keep learning something new each day! So I will be damned if I let myself take blame from political games 🙂
And you are right – Mistakes can happen with Software – But the core issue here should be – Is there an understanding of statements being signed off on, do we actually know what the numbers mean, do they make sense etc – that is the issue because if people did – questions would have been raised before statements made it ALL the way to Parliament.
@ Wambui – I also asked myself – what if the “typo” hadn’t been discovered. And seriously, I think its about time people learned to take responsibility for their actions! Right? Right!
Seriously though – I just believe that we should be better than this already!
Cynthia, thank you for your observation.
Now I do feel your frustration especially considering that you have a vast knowlege of how finanicial systems operate.
Incompetence is a major characteristic of the kind of people we have running our country. In the west, this same scenario would have resulted in the immediate resignation or sacking of the Minister while investigation takes place. In Kenya that is not the case. Even before the facts were out, people were already either defending or condeming the Minister solely based on the tribal affiliations. We know longer use rationale or fairness in looking at situations. We are looking at a country where decisions are made based on the wrong basis.
The kind of thinking and reasoning in Kenya today is no recipe for success but one of destruction. We lack sound leadership and fair leadership. Our moral standing is in question and the current leadership is void of the charisma necessary to direct the nation. Sad thing is that we all know it.
“All that is necessary for evil to triumph is for good men to do nothing”, Edmund Burke.
Hello Cynthia, just seen your comment on swedish education and would like to get in touch
@ Heb – That’s all everybody is saying. It’s got to be about doing the right thing irrespective of whom…
“Incompetence is a major characteristic of the kind of people we have running our country.”
I would like to see a day when such positions will be awarded based on merit, then political affiliations second. E.g. for a Minister of Finance in my case – what are your qualifications that make you a good fit for the docket? Do you have Finance/Economics degree ( degrees), professional finance qualifications, working experience in finance, what have you done lately to warrant you being in that docket? Is there a body that is going to vet you etc?
I think the issue we have is we are still confusing a politician vs a professional. Those two can mean and be the same thing in Gova – but in our current situation, they do not… 😦
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@ Napshana – I will email you in the evening
[…] felt Cynthia’s frustration when after she had written an article on the absurdness on of Uhuru’s dismissal of […]
Cynthia,
I like you lots but I really think you’re just another ODM blog. Hehehehe… 🙂
Peace! 🙂
@ Kaasa – Lol! Yaani you had to take a blow on this one….Hehehehe! 🙂
I am beginning to think I am “just another” ODM Blog. Hahaha! Ninajishuku 😉
Nah – I am just me – talking about things finance…
But I think I stepped on people’s peeps. Lakini – Thank God for Blogs because you can say whatever you want to in your space….. 😉
Hahahahaha, Cynthia great post. I’m just embarassed that now, after 2008 chaos we are still arguing based on parties and loyalty to our politricksters. Uhuru and his disappearing millions, I don’t even have time to try and understand his explanation. More of the Parliamenterians seem to be magicians, they keep making stuff disappear, wish they could make themselves disappear.
Cee – Thx! Thats my point exactly.
We all need to begin seeing things as they are – irrespective of who the players in a particular issue are. I am still very hopeful that we are going to transcend party/personality politiking, be bigger than that and do what right for our country – I won’t give up 🙂
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Cynthia… I could not put it better, at least you were patient enough to have the words. It drives me crazy to see such obnoxious things fly. Come-on now seriously, a typo?? Wait, a software error? oh great, and he schooled in the states and his buddy Kiraitu in harvard and look what the fools took back home!!! How do they even sleep at night? So, we have a finance minister with a political science degree, great!! Then what else? Chief who has a CPA? And for those who think on party lines… are you serious? Go Cynthia am an kyk, an accountant and can relate with your comment.