You have too much faith in treasuries and GoK. Have you seen how shabbily the govt suppliers have been treated? Seen how Kengen, NBK, uchumi were treated when seeking cash from the govt? This govt has decided to maximize tax revenues instead of maximizing economic output, heck I have KRA goons chasing me all over town. This is more like when the colonial govt after the lunatic express line was unable to pay for itself decided to levy poll tax and hut taxes. When raising taxes becomes impossible then the devil's alternative will come into play, print cash.

Don't get too tied up with fixed income, you are better off buying quality assets at rock bottom prices.

Very sad. People are busy saving, denying themselves lots of comfort so as to invest at the NSE while Gok is busy screwing its listed firms
And this is my final warning to investors at the NSE. TOUCH ANY PARASTATAL/GOK FIRM AT YOUR OWN PERIL
Of course we have success stories where Gok has some stake eg Safaricom.
Let me also emphasis that with a disciplined government, Gok firms are the best to invest in. Between 2003 and 2007, the highest gains were in these firms....but again, that was a different dispensation. For now, you will be wise to invest in high yielding dividend stocks, firms with a low gearing ratio, companies with a history of sound management and profitability and lastly, a strategic partner with VETO powers.
Please remember to also invest in Treasuries, there is a whole thread of how to go about that. A broke Gok always means high yields

Best advice in wazua by far. Nothing more to add

In 1970, Mexico’s economic policy changed radically when Luis Echeverria was inaugurated as president. An enormous fiscal expansion took place and public debt started to increase. Consequently, budget deficits soared to 10% of GDP in 1975 and 1976. The growth rate of the monetary base accelerated to 33.8% in 1975. Consequently, inflation rose above 20% in 1973 and 1974. Meanwhile, the balance of payments deteriorated. Due to rising inflation, the real exchange rate appreciated rapidly and was largely overvalued. The current account deficit recorded 5% of GDP in 1975. Total foreign debt increased sharply to 31% of GDP in 1976. Almost all of this debt was held by the public sector, lent by international commercial banks (Buffie, 1989). Approximately three-quarters of the interest payments were tied to US interest rates and the London Interbank Offering Rate (LIBOR), which repriced every six months. Therefore, these credits were especially vulnerable to repricing risk driven by changes in the macroeconomic conditions of the creditor nations.