Inside Moses Kuria 4-Point Plan to End Kenya's Sh6 Trillion Debt

Gatundu South Member of Parliament Moses Kuria has unveiled a four-point plan by Chama Cha Kazi on how to clear Kenya’s rising debt.

In a statement posted on his Facebook page, Kuria noted that as we are heading closer to the 2022 General Election, politicians are likely to make all manner of promises regarding the economy, with limited or no proof on how they will deliver.

 “In this season of high politics, remember we will not start a new country from the scratch. We will continue collecting Ksh2.6 Trillion in tax revenues, spending 1.5 Trillion in salaries, 1 Trillion in debt servicing and the balance Ksh 100 Billion in Pensions. Without borrowing we will not have a single penny for development. Any candidate or party presenting an economic model must start by presenting to you a solid plan for eliminating the Ksh 6 Trillion Public Debt. Short of that they will be taking you for a ride,” his statement read in part.

Laying down CCK’s plan to eliminate Kenya’s current Sh6 trillion debt, Kuria noted that the party will consider selling the government’s stake in parastatals like Kenya Railways, Kenya Power and KENGEN among others.

“Chama Cha Kazi will push for sale of GoK stakes in strategic parastatals like Kenya Ports Authority, Kenya Airports Authority, Kenya Pipeline, Kenya Railways, Kenya Power, KENGEN and minority stakes in KCB Bank and Safaricom to offset the Ksh 6 Trillion debt,” he said.

Secondly, Kuria noted that CCK will “push for international auctions of all mining and oil exploration concessions including Mrima Hills Rare Earth deposits in Kwale to further pay off our debts.”

Gatundu South MP Moses Kuria. [Photo: Courtesy]

Detailing additional options available to the party, Kuria said Chama Cha Kazi will work with the Kenya National Chamber of Commerce to convert 500,000 civil Servants into 500,000 SME enterprises and convert their sendoff package into a non-repayable startup capital.

Lastly, Kuria opined that Chama Cha Kazi will work towards having a 5-year tax holiday for Kenyan companies with operational presence in at least 10 countries in order to expand and increase the visibility and dominance of local companies in foreign nations.

“That is us. Now ask the others for their practical and realistic plans not empty economic rhetoric,” he added.

It is not clear whether the plan is part of Hustler Nation’s bottom-up economic model, or it is Kuria’s lone idea for ending the debt crisis.

Over the past few weeks, there has been some tension between Kuria and leaders allied to the UDA party over the way forward in regards to forming coalitions ahead of 2022.

Kuria hold the view that small parties should not be dissolved, while other leaders associated with UDA argued that only one big party should be used by all Hustler Nation affiliated entities in 2022.