December 4, 2022
Demonitisation failed in India, will Kenya succeed?

By Otieno Nyabemba

India opted to use demonetisation as a means of fighting corruption under the naive imagination that it was going to work like magic …

The move achieved nothing after the country’s central bank, confirmed that 99.3 percent of the demonetized notes had been returned to the banks:

It later emerged that it was an idea that was largely inspired by a Bollywood movie …

With the benefit of hindsight, Kenya still went ahead and employed the failed Bollywood movie script to fight graft and sunk 15 billion into printing new currencies only for 98% of the old currency to be returned:

Just like Huduma, my take on this one is that the demonetisation circus was just a front to create an inflated tender worth 15 billion and we fell for it hook line and sinker … ????

Source: kenyagist.COM

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