Kenya, second after Jordan to steal/transfer the highest amount of Aid Money to offshore accounts.

[The.Black.Templar]

A World Bank study on foreign aid shows it ends up in the pockets of ruling elites in recipient countries rather than going to those that it is meant to help

The World Bank’s study, Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts, published on February 18, came as a shock. The term “élites” is defined as ruling politicians, bureaucrats and their cronies in the private sector involved in aid-funded projects.

The main finding of the study is that aid disbursements “coincide with significant increases in deposits held in offshore financial centres known for bank secrecy.”

Between 1990 and 2010, Kenyan politicians and their cronies transferred US$3bn. In Tanzania, the EAC’s second-largest economy, the elites siphoned off US$586m. Uganda came next with US$270m, followed by Rwanda on US$190m, and lastly, Burundi with US$122m.

The amount of foreign aid diverted by Kenyan ruling elites is appalling.

The US$3b stashed in offshore accounts for 20 years works out at US$150mn a year. That kind of money can build, for example, a power plant that generates electricity for an entire rural district.

 

[Anglututu]

And that is what is known, what about what isn't? I always say Kenya as a country doesn't really need any form of aid, if all is managed well. We just need to revive our industries and stop importing unnecessarily.

 

[Penologist]

Hebu angalia headline ya kesho Dn

Even these monies have not been spared,pesa inakulwa ku kulwa

Feeling sad

God redeem my Republic.

 

[Victorkipleting]

And that is what is known, what about what isn't? I always say Kenya as a country doesn't really need any form of aid, if all is managed well. We just need to revive our industries and stop importing unnecessarily.

Alot of cash should be allowed into circulation

 

[Internet]

One rule of nature is that there is no way a hyena can be feasting when the lion is idly looking by. For a hyena to feast in peace the lion usually has taken his share first.

 

[Ramiran]

In most cases the money is not just stolen for selfish use by those elites, another very important reason (for said elites) is to actually prevent that intended development, keep the people poor and powerless, i.e perfect candidates for more AID

 

[Mr Black]

There are people in this nation who should have their balls crushed (or clits ripped) until they transfer back to government coffers the loot the siphoned away, that figure stood at around Kes 15 Trillion back in 2017 stashed in foreign banks, greedy, heartless bloodsuckers!

 

[Swansea]

But those countries too where these stolen monies are stashed are also complicit in aiding and abetting theft.

Imagine how that money can change the ordinary people's lives. What a shame.

 

[zapp_brannigan]

There are people in this nation who should have their balls crushed (or clits ripped) until they transfer back to government coffers the loot the siphoned away, that figure stood at around Kes 15 Trillion back in 2017 stashed in foreign banks, greedy, heartless bloodsuckers!

And their appetite to amass more and more is getting bigger .

 

[Victorkipleting]

In most cases the money is not just stolen for selfish use by those elites, another very important reason (for said elites) is to actually prevent that intended development, keep the people poor and powerless, i.e perfect candidates for more AID

We will be more poor