Kenya is working hard on import substituition esp.in the energy sector thru Geo-thermal (renewable) and Ethanol for fuel blending. Further, the GoK is investing heavily in irrigation & mega-dams to improve food security thus resulting in less food imports & reliance on rain-fed Agric. in years to come. On the otherhand, when we get our BPO sector up & running, it will earn us a lot more forex than all our current exports combined, in my opinion. Lastly, with the evolution of our SMEs to join our other growing indigenous MNCs (KCB, COOP, BIDCO, EBL e.t.c) we will cease more control of our economy and repatraition by foriegn MNCs will be greatly diluted.

"The AUD is backed by a depletable mineral resource (gold) .."

Australia is experiencing mining boom, with Gold and Iron ore reaching all time High..demand coming espcially from ASIA..China, Malaysia etc..

@Cde Monomotapa
The AUD is not backed Gold or Silver standard...the mining boom has given OZ a very good income, hence we have budget surplus and national debt is very low (66Billion). Thats why AUD currency is considered a safe heaven along with swiss francs...countries with healthly balance sheet..Just recently AUD= 1.08USD all time high.

Just thought it would nice to share facts..not theories. Always keep in mind the more the government borrows be it local or from foreigh partners, this goes to our balance sheet as laibilities, some day we have to repay it with interest.

And i honestly dont think that a couple of dams wont enough generate foreigh exchange to fund infrastructure and other ambitios plan, when the government cannot provide enough food for starving our fellow Kenyans...

C'mon man...when I talk about mega-dams it should occur to U that we intend to irrigate and grow food all year round instead of importing food hence using up forex as we are currently doing!!

Could you give an example of these mega dams you are talking about. Are they by any chance among those under contention between the current water minister and others?

Yes. Those ones and luckily govt.policy supercedes individuals. They will still be completed. Congratulate yourself if you voted YES for the current constitution that will rid us of this Minister cum politicians non-sense. Kenya is undergoing a serious over-haul, find ur position & make money, OTW just read the bulk trash in the papers and have ur mind and actions stagnated more than a swamp.