MinBane

I write what I like.

Archive for the category “Transparency”

Opinion: I wonder, what is Ramaphosa hiding?

The grandest trick of them all is to follow the money. If you want to know where the mans heart is: find out where he spends it. That is usually the trick to solve everything. With this in mind, the recent revelations and actions of President Cyril Ramaphosa. Shows, that there is a dire rot within the African National Congress (ANC), the state capture didn’t only eat Jacob Zuma, but it has taken other people hostage too.

This time its his former friend and now President Ramaphosa. Who uses his lawyers, his technical team behind, the party organization and everyone involved to hush, to silence and stop a Public Protector Report #CH17 from Adv. Busisiwe Mkhwebane to be released. Since, that will hurt the President and his team. Clearly, there is something there under-seal, that the President want to hide. Just as if other Presidents like Zuma needed to hide certain reports from the public. This is not a new trick, but an old one with new theatrics.

Some people say: If you’re wealthy already and gets into a public office, you got no reason to steal. However, you go figure me out, because, the richest is the greediest and the ones that eat the most. Secondly, they are the ones that will push blood out of a stone for a profit. Therefore, the wealth gained already by the likes of Ramaphose. Doesn’t stop him from finding news ways to pocket funds and ensure his backers get favourable tenders. In addition, this has been state practice under Zuma, so Ramaphosa want to do it on the low-key.

It doesn’t save the case, neither the defence letter of the lawyers, to ask of the released mails on the report confidential, as well as asking for the report to be under-seal. This all means, that the head of state is stopping one of the mechanisms and the state own functions, when it fits him and his cronies. There is no different way to see this, because this is stopping the public, the courts and the justice to be served.

Since, the Head of State is using his fortune and his attorneys to defend the funds he got for his campaign. Whoever paid him and allocated him funds is getting suspicion, even before its unsealed, because the President hide it already. The President could have been transparent and open about this, but surely there are some relics of the state capture. Therefore, he got to make it hush-hush.

Ramaphosa doesn’t look smart, doesn’t look refreshing and if he cannot be transparent about campaign funding, what else will he hide in the future? What else will he mull to silence and stop from being released? What sort of business deals with the State Owned Enterprises have he made and who has he given tenders too?

It is easy to ask and think about, because this is modus operandi. If you scratch my back, I will scratch yours. Especially, when someone donates big-money, they expect big-returns. Unless, there is as side-dish and a few bastards kept in the shadows of power. In this regard, it is just mere infuriating facts, that a President want to keep a state report under-seal, which is a about the funds for his campaign.

A Presidnet that is using his power not for the good, but for his own wealth creation. Wants to keep the public in the dark, about the way he spent money in a limited time. Than, the question remains, what about how he spends money, all of the time? If he wants to hide this, what else is he hiding? This cannot only be it!

That is why this shows something about Ramaphosa, that he really doesn’t want to show. He shows that he is compromised and that his wealth isn’t a shield for corruption, graft and possible embezzlement. It is instead it’s a vessel for more of it. Peace.

Advertisements

Uganda: Fresh report states that the debt-service has grown 129% within one financial year!

 

The Republic of Uganda’s economy is really reeling, it cannot be sustainable as the Government of Uganda is growing their debt like there is no tomorrow. While the fiscal growth is substantially lower than their rate of debt-service. As the growth of debt combined with lacking growth to substantiate the shortfall.

In addition, with the knowledge of added expenses, growing shortfall of funds in the upcoming Financial Year of 2019/20 and the election year of FY 2020/21. There will be more add-ons on the need for debt service, as the state already had loans outstanding, which the grace period ends and the debt-service begins on. Therefore, the amount of loans will transpire even more, than what is in this report. The endless cycle of debt and growth of it, is worrying, as well, as the state thinks that the magical wand of oil-money will clear this debt. Even as the first operational oil field and such has been postponed yet again.

Just look!

“The total Government of Uganda external debt service by end of FY 2017/18 amounted to US$275.75 million, which was an increment of l29% compared to US$120.62 million in FY 2016/17” (…) “Debt service of Uganda’s external debt is on the rise and outstripping growth of the country’s income, currently at 6%. This poses risks for future debt repayments, especially as the country continues to acquire external debt at less concessional terms, especially to finance the oil development programme” (P: 6-7, 2019)

“It follows that as interest rates increase, the debt service obligations of Government also increases. The rise in external debt interest costs attests to the fact the government is increasingly contracting non-concessional debt, which will increase the repayment burden” (P: 24, 2019)

“However, this may not be the most likely scenario, as most projects have been discounted and some excluded in the macroeconomic framework. With the development of the NDP III, additional project and other pipeline project related to the oil developments and other infrastructure, will increase the financing requirement of government in the medium term. The inclusion of the above projects will re-classify Uganda from low risk of debt distress to moderate risk of debt distress or high risk if the export shocks materialize. A downgrade would have significant implications for the program with the IMF, where Uganda’s credit risk rating will worsen; implying that accessibility of nonconcessional financing will be limited. This will limit credit to Uganda to only concessional and grants financing.” (P: 28, 2019)

You don’t need to smart about it, as the state has bigger budgets with higher shortfall in the economy, combined with debt service and higher interest payments on the growing amount of loans. You know sooner or later, the economy will tank, as the fiscal responsibility is taken for granted and that fresh funds are lacking, because these are taken out of the economy to finance the payments of the old debts. Instead of generating growth and actually naturally grow the economy, by spending and investing as a state. The money is taken away to service debt, instead of building the state. That is what they are doing and at a alarming rate. Peace.

Reference:

NEC1-19 – ‘REPORT OF THE COMMITTEE ON NATIONAL ECONOMY ON THE STATE OF INDEBTEDNESS, GRANTS AND GUARANTEES’ June 2019, Parliament of Uganda

The crazy and mandatory exercise called the Huduma Bill of 2019!

Here we are, at this moment and time, where the Jubilee government, where the Kenyatta administration has no issues to launch a bill so draconian. That the state are forgetting their role for the citizens in their drive to pursuit the registration of all with Huduma Numba.

As the bill states: “AN ACT of Parliament to establish the National Integrated Identity Management System; to promote efficient delivery of public services; to consolidate and harmonise the law on registration of persons;to facilitate assigning of Huduma Namba and issuance of identity documents;to facilitate registration of births and deaths;and for connected purposes” (The Huduma Bill, 2019).

This sounds legit, but at the same time, the registration for these reasons should already be in other parts of the legislation. Not for a NIMS or Huduma Namba but for a commercial ideal, which is an agreement between Mastercard and the Government of Kenya.

As explained here: “Nairobi, Kenya – February 7, 2017 – Mastercard commits to supporting the roll-out of the Huduma Card in Kenya as the technology partner of choice for the local government organisation. The secure payment solution supports Kenya’s Vision 2030 that calls for reforms in public services to enhance accountability, transparency and efficient service delivery, with focus on developing a cashless economy. The Huduma Card is a prepaid card with chip and PIN technology that will connect all Kenyans to the formal financial sector by providing a secure, reliable and flexible payment option. The Huduma Card, powered by Mastercard, is currently being issued by Commercial Bank of Africa (CBA), Diamond Trust Bank (DTB), Equity Bank and Kenya Commercial Bank (KCB), with no bank charges being allocated to citizens when registering for the smart card” (Mastercard, 2017).

Clearly, this should be a voluntary exercise, as the commercial aspect of this shouldn’t make this mandatory. However, with this law, they are really showing no regard for the public. As they are not asking people to accept a commercial agreement with Mastercard, but doing it mandatory.

As stated in the law here:

8.(1) Every resident individual shall have a mandatory obligation to present theHudumaNambain order to—

(a)be issued with a passport;

(b)apply for a driving licence;

(c)register a mobile phone number;

(d)register as a voter;

(e)pay taxes;

(f)transaction the financial markets;

(g)open a bank account;

(h)register a company or a public benefit organisation;

(i)transfer or make any dealings in land;

(j)register for electricity connection;

(k)access universal health care services;

(l)benefit from the government housing scheme;

(m)register a marriage;

(n)enrol into a public educational facility;

(o)access social protection services;

(p)register or transfer a motor vehicle; or

(q)any other specified public service” (The Huduma Bill, 2019).

As you see from this, most of the state services are bound by having the Huduma Numba and the Mastercard connected to it. If you don’t have it, you are not getting access to government services. They have even more of them too, even passports:

(2)The requirements for applying or replacing a Passport are—

(a) Huduma Namba;and

(b)prescribed fee” (The Huduma Bill, 2019)

So, by this state, even passing by a road-block, the Police Officers needs to see your Huduma Numba to let you pass by. To prove that your not a felon, but an innocent citizen.

To top this off, the legislators plans to sanctions the ones who doesn’t want to comply to this: “48.A person who carries out or permits the carrying out of any transaction specified in section 8 without a Huduma Namba commits an offence” (The Huduma Bill, 2019).

It is actually an felony to not comply with previous part of law. They are not only stopping people from getting government services if they don’t have the Huduma Numba and Card made by the Mastercard, but also making it a felony not to register it properly.

The giant lie of this bill, is this sentence in the ending of it:

The Bill does not limit any fundamental right or freedoms” (The Huduma Bill, 2019).

Well, if you cannot access any of the government functions or get the needed services because of not having the Huduma Namba and Huduma Card, than your kind of limiting the fundamental rights or freedoms. The liberty of the person is taken away, as they got to do this. This is taking away people’s freedom, to put them into a government scheme, as they have signed off together with Mastercard. They could have done this with VISA and it would have been the same issue, even for Gods sake, American Express.

So, when CS Fred Matiang’i wrote that this bill doesn’t limit any fundamental righ or freedoms of its citizens. I believe he was high or drunk, because he couldn’t write that with a clear mind. Unless, his heartless and doesn’t understand the basic components of the bill. You don’t need to be a legal scholar to get the gist here. Peace.

USA: DNI Chairman Coats resignation letter to President Trump (28.07.2019)

Uganda Peoples Congress: Caution on Coffee Bill (17.07.2019)

Kenya: Turkana Country Government – Statement on the Council of Governor’s legal push over the Division of Revenue Impasse (16.07.2019)

Zimbabwe: Terrifying high inflation rate!

Prof. Mthuli Ncube needs to really show the new dispensation and prove that the RTGS Dollar and Bond-Notes put together into the Zimbabwe Dollar really will save the economy. Because, the state is clearly failing on putting trust in the economy. The financial markets clearly has lack of trust or not feeling it. The Zimbabwe African National Union – Patriotic Front (ZANU-PF), the second republic has to prove now, that they can fix what the Mugabe regime couldn’t fix in 2008.

Now, the Ministry of Finance, the Professor and Minister has to prove himself. That he can fix this, before the hyper-inflation hits the fan. Since, there is an giant issue. The inflation is already getting out of hand.

On the 15th April 2019, the inflation rate was at 66,8%. By the 15th May 2019 it had already become 75,86%, it continued to spiral and by 17th June it was at 97,85%. That all seems bad enough, as the progression and estimates has been broken every month. Now today on the 15th July 2019, it has hit 175,66%. That means since April the rate has nearly tripled and is now at the level of triple digit.

The prices must really skyrocket, the salaries will not be able to follow these sort of numbers. The state cannot manage to finance the state nor get the civil servants paid enough. Now we can anticipate the fuel, gas and electricity prices to go up. It got too, because, the economy is crashing. When the inflation get to this, you know something is up. The state is now getting the inflation at a ten-year high. They are surely trying to get back into the 2008 mojo.

Mthuli Ncube really have to start doing some miracles, some sort of divine god-like acts that turns water into wine. He needs to dig deep into the shelters of misbelief and find redemption. Because right now, the bridges are burning and the state needs.

Just to tell how bad it is, the estimates in the coming months is already at 200% in August and by mid-September to get to 251%. If these are true, than we know the drill. The lack of foreign exchange, prices out of control and state reserves emptied. The need for IMF, World Bank and Chinese Exim Bank to save the day. To stabilize the economy and revamp the economy.

The ZANU-PF clearly doesn’t know how to build trust or fix this. Since, they are doing the same thing all over and they have not launched the new currency yet. This shows how dire and destroyed the economy is. Peace.

RDC: LUCHA – Premier Cas Confirme d’Ebola dans la Ville de Goma (14.07.2019)

Ethiopia: Completion of Preparation of Reform Process of Ethio Telecom and Sugar Factories through Partial Privatization and Opening of the Sector for Competition (05.07.2019)

Zimbabwe: Lack of trust is the key to everything…

Well, this last few days has been revealing, as the state have added more measures to try to wheel in the economy, but if it will stick boils down to one important factor. That important factor is if the public, the citizens and the stakeholders trust the government and their policies.

This is the key with relaunch of the ghost currency, the decade long missing Zimbabwe Dollar, the joining currency floated after Bond-Notes and RTGS Dollars. Which is supposed to save the economy and bring a new normal. In an economy where there are spiralling prices, lack of imports and also lack of trust in general; this is not directly strengthening that, but surely is a test.

If the Second Republic and the second regime under Zimbabwe African National Union – Patriotic Front (Zanu-PF) is to stick around, they need to fix this. They cannot have another crash, have another big blow and weakening economy. There is already plenty of issues as is, last years taxes on mobile money and transactions took out lots of funds from the economy in direct taxations; these funds have been taken by the state and never returned to the market.

With this in mind, the state is in dire need of change, to build up self-esteem and hope for a better future. However, is the launch of the Zim Dollar, the right thing to do?

Is it about right to monopolize all buying of maize to the Grain Marketing Board, where the public is not allowed to sell or transport even a set amount of maize without licence or without authorities authorizing the transport of the maize?

Will these things make the economy stronger or will they have a negative effect like the RTGS taxes of last year?

I am thinking so, because there is very little evident of good hopes on the horizon, of possible unique changes or patterns, which the state will benefit in huge quotas from this. By all means the ZANU-PF will say it is making progress, that its all good, but not long ago there was fuel shortage and other things lacking because of lack of foreign exchange. The Reserve Bank and the other authorities better be prepared and have good advice for these changes. If they want to revive the currency, they better have a gold standard, a reach and not print money like there is no tomorrow. Since, it doesn’t take much to devalue a currency and also get hyper-inflation. Especially, when the society, the financial institutions and the whole market are sceptical about the whole deal.

The Zim Dollar and the GMB might be good ideas, might be brought to the market by good means, but will only bring more pain or suffering. As the farmers, the traders and the citizens will bear the costs, as the state is figuring out new ways to control and secure funding without adding investment or collateral for these investments. Certainly we can hope for otherwise, that the Finance Minister and everyone else involve has a well functioning plan.

However, do we really think so? Do the ZANU-PF deserve this trust and the good faith? Do they? Alternatively, are they just another military junta finding new ways of scheming for funds? Because, that wouldn’t shock anyone of us. If they are making new commissions or inquiry boards to settle old sins and hire cronies. That is what they do and not really making progress.

We can lie to ourselves and say it will all get better with these measures, but are we really certain? Do they really do all good? Does the ban of foreign currency really help? When the state functions are still taking US Dollars for functions and expecting foreigners to pay in US dollars. Do the RBZ and the Ministry really configure this or are they winging it?

There was one fella, who called the Zimbabwean economy an albatross; I think he was right, I really think he was right. By all accounts, there is little luck and little positive to find. We can joke around, mock and make a fuzz. However, the dire consequences are that teachers cannot food; the civil servants cannot pay for mortgages and so on. It is a dire need for change and for trust in the economy. Nevertheless, as long as the ZANU-PF is playing along, there will be questions. Many, unanswered, which is bringing no good. Even when the measure might have been made with grandest intent. Peace.

Post Navigation

%d bloggers like this: