According to Olekina, the move is a smart plan aimed at reducing Kenya’s long-standing dependence on Bretton Woods institutions like the IMF and World Bank. He argued that relying less on external lenders could spare Kenyans from harsh loan conditions, frequent tax hikes, and painful austerity measures that have become synonymous with foreign-backed financing.
The senator acknowledged that privatisation proceeds alone cannot plug Kenya’s massive budget deficit, describing the plan as a drop in the ocean compared to the country’s overall borrowing needs. However, he maintained that, if properly scaled and managed, the strategy could help break the debt cycle by unlocking homegrown capital and easing pressure on public finances.
Olekina’s support, however, came with a strong warning. He stressed that his backing of President Ruto is conditional, insisting that implementation must be transparent and people-focused. “If those in charge mess this up, the whole plan becomes pointless,” he cautioned, adding that Kenyans must see tangible benefits such as job creation, lower transport costs, and improved infrastructure.
His remarks have triggered fresh debate within ODM, where opposition to Ruto’s economic policies has been a unifying stance. As the party grapples with internal dissent, Olekina’s position signals a widening rift and a reminder that Kenya’s economic challenges are increasingly blurring traditional political lines.
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