The Youth Café Participates in the People’s National Economic Recovery Conference: Okoa Uchumi
Nairobi, Kenya — December 19, 2023
The Youth Café proudly participated in the People’s National Economic Recovery Forum, Okoa Uchumi, held at The Bomas of Kenya. This significant event, organized by the Okoa Uchumi Campaign, brought together citizens, stakeholders, and policymakers to address Kenya's growing public debt crisis. The conference served as a platform to elevate public awareness, discuss sustainable debt solutions, and develop a comprehensive national economic recovery strategy.
The conference began with a critical examination of Kenya’s fiscal accountability challenges, led by key speakers such as Diana Gichengo, Susan Otieno, and Denis Omondi. These discussions highlighted the role of Parliament, citizens, and the Treasury in addressing debt recovery. The Youth Café, committed to empowering the youth with knowledge, engaged actively in these discussions, recognizing the importance of public participation in economic matters.
Participants were also informed about the implications of the Finance Act 2023, particularly the new taxes introduced and their impact on the community. The Youth Café emphasized the need for civic education to help young people understand these changes and their effects on their daily lives.
Another significant topic of discussion was the Privatization Act 2023, which aims to privatize public entities, including state corporations. Concerns were raised about how this could lead to reduced accessibility to public services for all citizens. The Youth Café acknowledged the need for informed advocacy to ensure that privatization does not undermine public welfare.
Jason Braganza provided insights into Kenya's economic structures, noting the replacement of domestic resources with debt as a catalyst for transformation. The mismatch between debt maturity and asset income generation was also discussed, highlighting the need for better debt management strategies. The Youth Café recognized the importance of educating young leaders on these economic intricacies to foster responsible fiscal management.
The presence of the International Monetary Fund (IMF) and the World Bank in Kenya was critically examined, with discussions focusing on their impact on Kenya’s fiscal and monetary policies. The high-interest loans offered by these institutions have made borrowing and debt servicing increasingly expensive. The Conference underscored the failure of institutions like Parliament to effectively oversee spending and taxation. The Youth Café echoed the call for a Forensic Debt Audit to hold those involved in financial irregularities accountable. This aligns with The Youth Café’s mission to promote transparency and accountability in governance.
Participants were also sensitized on constitutionally protected spending budgets, including pensions, public debt, wages for government employees, and national payments to international bodies. The forum called for stricter policies to ensure an active accountability cycle, a stance fully supported by The Youth Café.
The discussion on economic architecture also included the re-basing of economies and the challenges it creates, such as fiscal gaps forcing Kenya to seek more non-concessional loans. The Youth Café highlighted the need for coherent policies that align with other African countries to address these challenges collectively.
The conference concluded with a series of proposed solutions, including cooperation between the government, Treasury, and citizens, and coordination by key institutions like the Central Bank of Kenya. The Youth Café emphasized the importance of these solutions and committed to playing an active role in their implementation.
As part of its ongoing mission, The Youth Café is committed to providing civic education and advocacy programs focused on public debt. These initiatives will empower the youth to engage in public participation and social responsibility, ensuring that the next generation is well-equipped to address Kenya's fiscal challenges.
In addition, we will offer mental health support services through workshops, counseling, and awareness programs. These initiatives aim to help young people cope with stress, anxiety, and other mental health issues, particularly in relation to the current economic situation. By creating safe spaces for open discussion, The Youth Café seeks to promote overall well-being among the youth.
Finally, we will continue to offer leadership and advocacy training to empower young individuals to become change-makers in their communities. These programs will teach effective communication, public speaking, and community engagement skills, enabling the youth to advocate for their rights and drive positive change.
The People’s National Economic Recovery Forum, Okoa Uchumi, was a critical platform for addressing Kenya's fiscal challenges. The Youth Café’s participation in this conference underscores our commitment to promoting transparency, accountability, and the socio-economic well-being of Kenya’s youth. We will continue to work alongside our partners to empower the next generation and build a more equitable and prosperous future for all.