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Mwalimu-G

Mwalimu-G

Elder Lister
Treasury's public debt boss bows out after 38-year career

DENIS MWANGI
January 25, 2024 7:00 AM

Haron Sirima has also served as CBK deputy governor in the course of his career
Outgoing Public Debt Management Director General Haron Sirima

Outgoing Public Debt Management Director General Haron Sirima


Dr. Haron Sirima, the Director General of the Public Debt Management Office at the National Treasury, is leaving his position.
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Dr. Sirima's career spans over three decades in Kenya's financial sector, starting as a graduate trainee at the Central Bank of Kenya in 1986 and rising to the role of Deputy Governor.
He's also served as Deputy Director Management Department at the Ministry of Finance and as an Adjunct Professor at Jomo Kenyatta University of Agriculture and Technology.
Dr. Sirima's contributions to Kenya's public finance management have been significant, particularly in the design and implementation of public debt management reforms.
His academic qualifications, including a B.A and B.Phil in Economics from the University of Nairobi and a Master's degree and PhD from the University of Manchester and Kenyatta University respectively, underscore his expertise in the field.
Outgoing Public Debt Management Director General Haron Sirima

His departure comes at a critical time for Kenya, as the country faces a looming debt crisis.
The situation is exacerbated by the maturation of Kenya’s first Eurobond in June 2024, a significant financial hurdle for the nation. With the inability to issue a new Eurobond to settle old debts, Kenya risks a severe liquidity and debt crisis.
The Kenya shilling depreciation against the US Dollar adds to the burden, with $1 currently being exchanged for Sh162 as on January 2024.
This weakening currency has increased the costs of debt servicing, putting additional pressure on the economy.
Kenya's public debt increased dramatically during former President Uhuru Kenyatta's tenure, more than quadrupling from Sh1.79 trillion at the start of his presidency to Sh8.7 trillion by August 2022.
This spike in debt has raised concerns about Kenya's fiscal sustainability and its ability to manage external shocks effectively. The COVID-19 pandemic and the Russia-Ukraine conflict have further strained the economy, impacting sectors like manufacturing and construction while fueling high input and output prices.
Kenya's National Treasury building is pictured in Nairobi, Kenya, on June 14, 2018. (Photo by YASUYOSHI CHIBA/AFP via Getty Images)

The exit of Dr. Sirima is a significant moment for Kenya, highlighting the challenges facing the nation in managing its public debt.
As the country gears up to tackle these financial challenges, the expertise and leadership of the Public Debt Management Office will be crucial.
The new director will have to navigate a complex landscape of high debt, economic instability, and global uncertainties, aiming to steer Kenya towards a more sustainable financial future.
The Public Service Commission has already began the recruitment process
 
Eng'iti said:
I remember @Mwalimu-G akisema uku career civil servants wanakunja mikia. Wacha waweke mkale mshamba apo afanye io kazi
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If you love your career as a public servant, make sure you report to to your office on time , sign in then read newspapers back to back. Write a nonsensical report laden with jargons like cbcs, ghscte, nongovtpek, jhck of which you are the only one in the know of the full abbreviation. Wait for time to hit five pm, leave for a destination of your choice. Such is the sad and sorry state of our government in place which from the look of things will be there for 8 more years
 
Wegrow said:
If you love your career as a public servant, make sure you report to to your office on time , sign in then read newspapers back to back. Write a nonsensical report laden with jargons like cbcs, ghscte, nongovtpek, jhck of which you are the only one in the know of the full abbreviation. Wait for time to hit five pm, leave for a destination of your choice. Such is the sad and sorry state of our government in place which from the look of things will be there for 8 more years
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@Clemens huwa unandika hizi acronyms wasee wanatense wanapitia ripoti juu juu?
 
Clemens said:
Reports unajua huwaga hazipitiwi, bora zikuwe received, signed and later adapted by Rwanda for implementation.
After 5 years the politicians and their entourage can go for benchmarking exercises.
We live in a crazy country.
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experts are shunned by the government.
 
Mwalimu-G said:
When roadside declarations kill business (I thought kananii camped in Germany three days marketing our coffee!)

View attachment 91986
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Gachagua started his own coffee marketing company forgetting the eaters were many. They shunned his company both Kenya and abroad now coffee imejaa huko mills kwa magunia. Do you know one of the companies whose licence was cancelled is Sasini PLC group. They are waiting for Gachagua to self destruct
 
J
Wegrow said:
Gachagua started his own coffee marketing company forgetting the eaters were many. They shunned his company both Kenya and abroad now coffee imejaa huko mills kwa magunia. Do you know one of the companies whose licence was cancelled is Sasini PLC group. They are waiting for Gachagua to self destruct
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Juzi I was with a group of farmers who told me that their biggest worry is their coffee losing quality in stores while they are also bearing the cost of extra security.
 
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