Atwoli claims commercial banks weakening the shilling

Central Organization of Trade Unions (COTU) Secretary General Francis Atwoli now claims commercial banks are hoarding dollars to force the weakening of the shilling.
Atwoli who spoke at St. Joseph's Secondary School in Matungu constituency where he helped to raise Kshs 2.5 million with his own contribution of Kshs 738, 800 said only a revolution will save Kenyans from the stranglehold of cartels within the economy who are now forcing a sharp rise in the cost of living.

The COTU Secretary General said the Central Bank of Kenya Governor Prof Njuguna Ndung'u is being held hostage by some powerful individuals within the banking sector who are forcing the weakening of the shilling by hoarding the green buck.
"The cartels in the banking sector lied to the Governor of the Central Bank to release more dollars into the economy that to stabilize the shilling yet all they wanted was to buy the dollars released by the Central Bank," said Atwoli.

The Secretary General of the umbrella trade organization at the same time cried foul over the skyrocketing cost of living which he said is being caused by cartels within the economy who are amassing wealth in readiness for the general election next year.

"These cartels do not care even if kenyans died from hunger for lack of money to purchase food." he said and added that the current shortage of food in the country was caused by some officials within the maize sector who released bad seed to the farmers in Western and Trans Nzoia region in order to have poor harvest, "they even denied farmers fertilizer in Trans Nzoia so that the farmers there will not harvest and realize their full potential," he added.

Atwoli also predicted the collapse of the largest sugar company which he attributed to mismanagement by the administration who have over the years have no regard for sugarcane farmers.

"This company is being mismanaged while the sugarcane farmers are poorly paid so that in time there will be no sugar in the country so that some cartels can again start importing sugar from Brazil," he said and added that some operatives within the sugar sector are packing imported sugar in Mumias Sugar packaging to hoodwink consumers at the expense of the company has it loses its market share.

Area MP David Were called on sugarcane farmers in Western Kenya to rethink their continued farming in the cash crop as it is no longer sustainable to farm in the crop. "Our farms have become too small and unsustainable," said Were.

Atwoli also insisted that the health sector is presiding over the importation of fake HIV medicine adding that so many patients have already died after taking fake medicine that did not help them in their condition.

Atwoli urged the government to step in and correct the worrying trend. uploaded by E.Nyandoro

Category:

News & Politics

Tags:

• atwoli
• cost
• of
• living