JIMI WANJIGI: Gov't Wants To Solve The Debt Crisis By Over-taxation (Finance Bill 2023)
Vložit
- čas přidán 15. 05. 2023
- This is The Home of Sugar, Spice and Everything Nice!
Tune into Spice FM in Nairobi on 94.4 • Mombasa 87.9 • Nakuru 96.0 • Eldoret 96.7 • Nyeri 90.9 • Kisumu 102.5 • Malindi 97.7. Always LIVE on spicefm.co.ke
Spice FM © 2023
Follow us on
Instagram: / spicefmke
Facebook: / spicefmke
Twitter: / spicefmke - Zábava
We all slept on this brilliant mind. You are the guy that we should have had as the president.
Jimmy should be in every week. Very informative.
We will die.
This man definitely knows what he is talking about!!
We really need Jimmi on this show every day...
I have learnt alot of economics from him this past videos of him in it.
I think he's better of in the realm
Jimmy, there are those of us who hear you and support the work you have done. We appreciate you taking the lead and running with this crucial matter that we would not have been aware of. As a people, the next steps are for us to take.
Jimmy never disappoints in matters finance.
For sure Kenya we are screwed.
This guy can run this country as his business. He knows the nitty gritty. I have even come to understand how I am financially doing by just listening to him. As we talk, I'm in a debt trap. Over 15M Kes in debt. How I'm gona get out of this mess only God knows😢 Thanks Jimmy
Mine is close to 7m.. though it's earning me money.. I wish I could get 15 like you or more
Jimmy should just start teaching finance..he is so good at this.
This man has earned my vote, it'll be well reserved come 2027 God willing
Jimmy Wanjigi is a prodigy when it comes to the laws pertaining taxation and the laws that govern borrowing. His insight about the mystery surrounding the bona-fide and audios debt is mind-blowing. He has a sober and better understanding of the economy too than both the president and his cabinet. He is also a patriot at heart who can't stand how Kenyans are being taken for a ride. Spice Fm ought to bring him often.
WION journalist Palki Sharma said that there are about five countries in world headed the Sri Lankan financial crisis way; I think Kenya was among the five.
someone tag His Excellency... the president!
Jimmy you could make a good president because you understand stuff and it's important for a growing country. Team up with Agwambo to safe our country.
😂😂😂🤡🤡🤡
@@bryankimeu Oooh yes.
😂😂hii ime enda sasa 😂😂
😂😂😂
Agwambo saved him during Uhuruto regime when his house was raided.
I love this guy, please make sure you book him at least once every month, he is very thorough.
You've got to love when Jimmy is on the show
Wow, yeah, Mr. Jimi is one of those we would call, Bonge la Kichwa, very informative
Jimmy is a Finance guru
People here busy praising jimmy for his finance skills. Yet, we're missing the main point here. Jimmy simply wants us to take the necessary actions. Kenyans must stop sleeping and save the country. Arise and say no to corruption and illegal policies
This guy is better than my economics books.. He clearly understands every bit about budget making and public debt crisis...
Jimmy has researched. These are facts. NUMBERS DON'T LIE
He did forensic audit last year.
oh my iv learnt so much from Mr.Wanjigi our land is in a crises and this government has shady solutions. I feel like fleeing this country.🙆
Hope not to be missing this talk show,, very amazing articulations.
Jimmy is excellent
Spice, would you naming this videos as Part 1 so we get the flow of conversation?
Very true
Go by upload date.
This should be Part 2
Jimmy is well learned..kudos
Thank you spice FM
Being waiting for this Guy again
👏👏👏👏
never met jimmy but his analysis demands some serious attention! for example his approach to the forms of ownership where the state is not completely withdrawn and the private sector plus state and private sector that is jointly owning!
jimmy is a genius. its unfortunate that we ALWAYS LEARN LATE!
If we had serious laws concerning borrowing and the use of those funds, we could not be in this mess. Men borrow 50 billion, 45 billion is siphoned . only 5% is used . Why not audit all the monies borrowed, and bring to light those who looted, jail them, and recover our monies from their investments. this could serve as a warning to future borrowing. We will still borrow and money disappears. ni sisi wanainchi wa kawaida who will feel the heat. those who borrowed and lootedthemselves dont pay taxes.
If wishes were horses, all paupers would ride. Uv said what ought to be done, but politics in Kenya always win. Sad 😢😢
What do you mean? Isn't there a way out of this hole ? What stops a through audit?
Auditor General Nancy Gathungu and her predecessor Edward Ouko were churning out these audits from all counties showing the decay in our institutions but NOBODY is ever held accountable. Our wage bill is through the roof due to our overepresentation by busy bodies all over, it doesnt take a rocket scientist to figure out our self inflicted wounds. Tumeshindwa na kazi Africa mzima, time to head hunt others from first world TO LEAD or take another 100 years to be SERIOUS!
You are wrong on the laws. The laws are there but in handshake government, there were no checks. So people were borrowing illegally.
@@jeddycherono9229 Jimmi did an audit. It seems like default might be the option. Matunda mabaya ya handshake.
Jimmy always educates me 👍🔥🔥🔥SPICE FM 💯💯💯
I'm now adict to this show 💯
Having a dad who was an Mp in Kenyatta moi era for over 30 years he schooled in private schools all his life rubbing shoulders with the minority that own Kenya he knows the loopholes of making money in Kenya his father is a millionaire he is a billionaire in today’s standards he’s never been poor he’s selling himself to Kenyans as a future president
He has every right like anyone else.
you accurately capture UDA's sort of thinking... the problem is even the leaders born from poor families do steal, in fact they steal with the desire of wanting to build new dynasties that overpower the former traditional hierachies. just look at the likes of waititu or Riggy g..
This debt crisis problem is also facing USA. They are trying to figure out to cut down government expenditure. At least America has infrastructure, education, technology for show how they used the money but Kenya has nothing to show for it
Atleast they borrowed in their own currency
@@bensombogoo2587 We also borrow in local currency. About 50% of our debt in shillings. Only a half is in foreign currencies, mainly being in dollars.
@@georgeodhiambo598 but to repay the shillings have to be converted to the USD$ coz it's the universal conversion currency
@@mzuribeauty4287 There are two lines of public debts paid for differently. There are local debts borrowed in shillings and repaid in shillings. They are borrowed through instruments like Treasury bills, Treasury bonds, Infrastructure bonds etc.
Then we have foreign debts borrowed in foreign currencies. The dollar is the dominant one. They are borrowed in foreign currency and repaid in foreign currency.
About a half of Kenya's public debt is in local currency. And it is the one David Ndii was saying the Govt currently borrows at a rate of Shs 25billion per week.
This guy became a millionaire through corrupt government dealings. Now that he's out of govt circles he's painting a dark future.
Show me where he has lied using mathematics only not feelings azimio dog
@@gamersnevercryeverdog wasn't necessary, but you're right. Dude should show us where the man has lied. He's using numbers published by the government so whatever is saying is just translating for the ordinary Kenyan.
Be it as it may, you cannot discount his information on the account of his suspected shady deals.
Do you have evidence of all the statement .....stop these fallacy and listen to facts from Jimmy
100% TRUE!!!!
This guy should b advising our government , th success of our economy should always b th priority
Good work, Jimi!
I keep laughing with tears rolling down my cheeks when you mention our Ghanaian friends....Our only option is to default on the Loans and Declare can't pay won't pay... bankruptcy...with my little background in Finance, Jimmy is Genius. Numbers don't Lie.
Very interesting n informative too
very wise man
Bro Jimmy we are counting on you
jimmy i like your talk ni fact tu God bless you
A man sitted can see far than a boy on tree top.jimmy makes this proveb relevant.there are Soo many boys on tree 🔝
I have been in conflict with my boss at work for listening to this show instead of working.somebody help
😂😂😂
Record and watch it later
If you have a computer or smart phone
@@nancylinus3470 thanks Nancy ill do that the show is very addictive
Resign and watch it at home.
wanjigi should be a finance lecturer .kudos
For sure , yet finance is being taught by some clueless academicians in our universities
Finally a follow up topic on public debts over Taxation is going to hurt Kenyans Ruto need to see that
Zakayo is seeing 💰💰💰 in the account not KENYANS DEBT 🤣🤣
Latiff, I wish you tasked president Ruto to explain more about the debt, since Wanjigi said (in your show)we as Kenyans have no debt to pay!
Ruto is making life harder for us all
Latif this is the second time KEEP UP with the conversation
Wueh i had to rewatch part one again
Can we have a discussion with Business Man Jimmy Wanjigi, on areas affecting his own Business Due to the state of Economy in Our country?
bro, jimmy for president...
Probably withdrawing his charges to silence him.
Jimmy the genius
Watching this now and I feel like leaving this country. We're done in!
Waiting for the next video...continuation of this
I think it is fair for Uhuru together with Ruto to own up to their mess. Raila was an enabler. All these 3 politicians should be home right now we need new politicians!
Lets say our budget is 3 trillion standard for the last 10 years. 15% debt ceiling means there is no way we should owe more than 4.5 trillion.
How are you connecting budget to debt? You start with a budget. Then you fund it from own resources or from debt or a mixture of both. In exactly the same way it is done at personal level
@@georgeodhiambo598 From Wanjigi's statement,the law says debt cannot be more than 15% of budget.However if I factor in inflation and interest,I might have gotten the total wrong.
@@worldofsports5745 No. What he said is that the amount borrowed may exceed by 15% the loan amount APPROVED by parliament. That's only allowed as the project for which the loan was earmarked is in progress. Thereafter the Executive is still required by law to seek Parliamentary regularization. And he is right in that assertion.
The budget is then varied under a supplementary bill to reflect the increase as a regularization, rather than approval process.
We have been marinated with wisdom by Jimmy. Invite him again, Eric. Thank you, Spice team. ❤
Genius Jimmy
More like, used-to-be-part-of-all-government-projects Jimmy, now with insider information.
Now I know why politicians colluded with Wafula Chebukati to deny you an opportunity of running for President.
What about modifying the terms of these loans? Can’t we go back to our creditors, ask for term extensions and lower interest? As we sort our issues before choking the people with crazy taxation
Jimmy has spoken well.. but it is not true that fuel is cheaper here than in Kenya.. at Lwakhakha border, we actually cross to buy fuel from the Kenya side
Jimmy na Omkiya wanafaa wakue president aki.
We need them
So in simple terms the writing is on the wall.
I agree but he is part of the Kabul that put Kenya where we are. He is one off the billionaires who found ways to benefit from Kenyan resources human and natural but he and his fellow aristocrats did not pay taxes. He is a guy who discussed legitimate financial matter with a selfish tinge. Ask how much he paid in taxes in the last 10 years, you will not get a straight answers.
Jimmy wanjigi was part and parcel of this game and all the problems which kenyans are facing now so pls don't fool us ua the same Jimmy wanjigi who used to meet decided so many issues which will sure benefits them not kenyans now his not part of the game anymore sasa anatuambia nini decisions zote walikuwa wanaamua kwa nyumba yake ya kifahari
77%!..ofour revenue is to repay debt?...holy mackerel...we are in deep dudu..
Why didnt latif ask the president the other day about jimmy wanjigi',s claims? Its it the main reason we are in this hole in the first place? This issue of public debt should have been the first question to be asked and extensively followed up - my opinion.
😊
they should rename this program to THE SHIDA ROOM
This is a very BIG Problem
Before the 2007 elections the shilling was at 59 against the dollar...we have never recovered since then.😐
Jimmy is the guy 💯
Relax my fellow kenyans.. BY THE TIME ZAKAYO IS DONE SCREWING US WITHOUT VASELINE HE'LL BE ONE HELL OF A BILLIONAIRE BEYOND HE'S WILDEST DREAMS 😎😎
Yaani you have balls to talk and this mess was handshake mess ?😂😂😂 you can dare even mention Ruto ?
@@gamersnevercryever Get your fact right Ruto and Uhuru are responsible for the massive borrowing
@@Gaming_with_Martin even after 2017? 😂😂😂
When was the Euro bond and the SGR project iniated over ten years ago and who is the current president now that is currently over taxing people that's right Ruto and who is the common denominator here it's still Ruto
And then he still wants to raid our payslip over housinq tax we Gamers Zone unaishi dunia ingine
Ruto is Eric's guy so he is trying to defend the indefensible. That is also why he did not ask follow up questions. Things are bad and Ruto and company are still living large.
I now understand why Jimmy is a billionaire! Wueh!
His father was in government during Moi time so he benefitted from that through government contracts
These guys are not rich coz they are smarter than most..... don't be lied to 😂😂😂
@@mzuribeauty4287 how did he manage to multiply what his father left?
@@jamesmaina7414 if others are smarter, why are they not filthy rich?
@@IamJemoh his father is still around..
If you have USD in your account it's going the Lebanon, Cyprus which is a haircut and locking the bank doors.
Should the USD be sent to other countries
Why should that be so? Kenya shillings is still depreciating with respect to the dollar, and it appears to be on a free fall. If the USD is bad then the Kenya shilling is worse.
Mr. Wanjigi may the change in the board of safaricom be the reason for foreign investors running off? Perhaps the perrception that the company's corporate governance may as a result be compromised with the new team incharge? Recall the case of Kenya commercial bank during Moi years when the shares were not as attractive?
I have a feeling this may be one of the reasons coupled with the uncertainty in the country, remittances and overall global slowdown.
Jimmy is a super star business man
Debt is 200 trillion shillings and interest is 30 trillion shillings in dollars denominations. Kenya lipa next 300 years
when i listen tojimmy i see our sevior is right here on time .....Gimmy shoulbe the opposition leadr not this raila guy who dont know about our economy what he know is power freedom maandamano
Who told you Raila is the opposition leader? There is no such thing as an opposition leader under the current Constitution. People take elections very lightly, more like a game of tribal mathematics, but be very careful with the kind of leaders you elect all the way from MCAs to the President. The constitution does not charge the runner up in a Presidential election with any responsibilities. The role of keeping the Executive in check is with Parliament, and not some imaginary "Opposition leader" that only exists in your head.
Don't hire a hyena to look after your goats, then upon realizing that the hyena has eaten all your goats, then you start blaming the herdsman that you refused to hire! Sounds stupid, doesn't it?
How do fellows with high levels ignorance like you effectively participate in elections? What factors do you consider before you cast your vote?
Put, one of the sons of Ham, a son of Noah in the Bible.
Fun fact: Egypt, Cush and Canaan were brothers of Put. All sons of Ham, the son of Noah.
Cush - Cushites… BTW
Where is Anglo leasing money?
Finally, a solution. Throw in the towel. Default. Doomsday.
But Ghana defaulted and they are living with it! Let's default. Watado?
Zakayo is in charge. He did not elect himself. 10 years…16%vat on everything taxable. He also has to collect all the money he spent to be in office.
And then Riggy G takes over till 2043! Wueeh!
Do journalists study finance in college?they seem to understand the finance market
I think the government will refinance defer some and take more loans
True, but when you gave to take loans in order to repay loans, then the conditions for debt trap is setting in. Equally worrying is that when you get to that stage, then you can only access high risk, high INTEREST loans making it even more challenging in paying off the debts. Situation doesn't look rosy. We are already negotiating fir Eurobond 3 for settling Eurobond 1. It will come at a higher interest, if at all we receive it.
Jimmy is our trump someone who has knowhow of money
Trump knows about money?
Trump knows about money?
@peter kuria how could he archived such business empire without knowing about money?
41:19 Just Shakahola this whole country and no one will remember that a country called Kenya ever existed
I wish you could bring in an economist to sit on the panel as well. he preaches doom, but for some reason no one at knbs, IMF, world bank, treasury, CBK is panicking. very strange.
Numbers are numbers they dont know raila or ruto - numbers tell the story and they are readily available just go online and research
This are figures that are in public, no stories, no false promises, no cheap talk, just true figures which are accessible.
Wewe similar entities were there when Greece collapsed, then Venezuela and recently on the continent when IMF star boy Ghana invoked default! Thinking beyond our primordial ethnic cocoon is the only helpful solution for our dear Kenya.
That is akin to expecting the president to say "My friends, here, we are kwinished"
...thought Jimmy being stainless had gone kuramba Ruto matako spewe ma contract kadhaa....sasa😢?
The people who ate that money should pay alone buana. It is unacceptable for us to bear the burden while they lead soft lives.
That's why Uhuru was acting crazy.Wanted BBI. He knew this was coming. Infact Ruto was starting to want taxes but the put pressure.
@@silvershsadow2045 How was BBI going to impact on Kenya's debt obligations? Which clause of the BBI bill discharged Kenya from repaying public debt?
Public participation
How does, 'we are doomed' help ?
Ni wakati wa prayers. Bwana asifiwe!!!!
Kenya needs to EXPORT!
Produce for export purposes.
Cost of production iko juu. Bei ya mafuta na raw materials are expensive.
Avocado azijaiva. We going to lose that market also
Sina maoni kabisa
So Uhuru should pay his full taxes towards this cause now we know where the big debt came from. It's really not personal or witch hunt etc as they wanted us to believe.
Which tax hasn't he paid that you think he should pay?
P
Uda fellows angry as usual seeing their Gods being criticized
This must be the reason Uhuru is paranoid.Ruto wanted to tax Uhuru family backward for many years realising that the odious debt came from these guys. And we wonder why Uhuru was going crazy ?. And we used to as why BBI 🤔??
The response to an odious debt is not to tax parties responsible. Taxes are paid, whether there are debts or not, and whether they are odious or not. It is is for the current regime to disown the odious debt that was entered into earlier by a despotic regime. Ruto was the second in command in that despotic regime that burdened the country with the odious debt. He will be hard pressed to put up a case of odious debt, because he is a party to the debts. It is the lender who stands to lose if the debt is declared to be odious. You don't just wake up and declare debts to be odious. There are consequences to that line of action.