Mega corruption is the main obstacle making it extremely difficult for the country to realise its development dream. All the talk about turning Kenya into a Singapore will not be realised, as those who should make it happen continue to pursue their selfish interests at the expense of the people.
This should concern President William Ruto, as even the World Bank has acknowledged that his vision to move Kenya from a developing country into a high-income nation will remain elusive if corruption is not dealt with.
According to a World Bank report, taming corruption is the surest way to transform this country into a fast-growing economy and create wealth and jobs for millions of Kenyans. Whereas former President Uhuru Kenyatta revealed during his tenure that Sh2 billion was stolen daily, the World Bank’s calculation is that Sh358 billion is lost annually to line the pockets of a few well-connected people and their allies.
The huge government projects, including the Standard Gauge Railway, have cost the country huge losses through corruption and collusion. The World Bank says the country overpaid Sh117 billion for the construction of the Mombasa-Naivasha SGR, for instance.
The cost of this scourge is estimated at 2 per cent of the Gross Domestic Product (GDP). Corruption is, therefore, the major constraint holding back the country from achieving its full economic potential.
This is, of course, nothing new. Many Kenyans, including the leaders, are aware of this scourge that is hampering the realisation of their dream of a better life. Corruption increases the cost of basic services such as electricity and logistics. Nearly 40 per of businesses have identified it as the main handicap in their operations.
This mess should not be allowed to go on forever at the expense of the people. There is a need to accelerate progressive legal instruments to enhance the fight against graft for national benefit.
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