kripp wrote:@mwekez@ji on Balala's move, this is precisely why Africa remains poor. I cannot understand why we would want to give away our NATURAL RESOURCES so easily and cheaply? As mwalimu Nyerere is quoted to have once said, "these resources are not going anywhere" so why the rush to do an unfavourable deal?
What we in Kenya should do with our natural resources (Minerals, Oil&Gas,Land, Fishing etc) is to have a constitutional law that prohibits a foreigner from holding a majority stake in our natural resource. This is the norm in the oil producing Middle East countries and I believe also in the neighbouring North and South Sudan.
We should then only enter into joint ventures with foreign companies for the sake of technology transfer. Financing should be a separate issue because that can always be arranged separately.
Finally, why are we still exporting raw materials? we are losing so much value and jobs in the process.
@kripp
1. We are not giving away our natural resources. we are encouraging investment leading to their exploitation. there are revenue sharing agreements to ensure the country and the community benefits.
2. Locals are not being locked out from the mineral exploitation. They can still participate via 100% locally owned companies or in collaboration with foreign investors
3. Mwalimu Julius Nyerere implemented socialist economic programme (ujamaa) which had many downsides. Am sure you dont want ujamaa for our dear country.
4. On exporting raw materials, i agree, we should not do that. value addition ni kitu muhimu