Don’t take up loans, DP Gachagua tells counties hit by money woes
Deputy President Rigathi Gachagua (centre), Mining, Blue Economy and Maritime Affairs Cabinet Secretary Salim Mvurya (left) and Kwale Governor Fatuma Achani (right) during the handover of modern fishing boats to locals at the Shimoni jetty in Kwale County on April 19, 2023.
Don’t borrow from banks to pay salaries, Deputy President Rigathi Gachagua has exhorted counties caught in the grips of a crippling financial crisis following the failure by the National Treasury to release an equitable share of revenue to the devolved units, with the delays now running into months.
Doing so, the second-in-command told a gathering of deputy governors in Mombasa City yesterday, is neither sustainable nor prudent, with the banks charging highs of 14 per cent interest.
