The Equity bank of Kenya CEO James Mwangi has told Kenyans that they should warm up to the 16% tax levy on fuel so as to secure a better future.
He termed the increase in tax as the cost of transformation. Mwangi insinuates that the rising cost of living is as a result of accelerated development in the country, and that Kenyans should be ready for it.
“Essentially what we are seeing is the cost of transformation. We can’t wish and enjoy a ride on the standard gauge railway line but we are not willing to tighten our belts,” Mwangi said.
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The Equity bank boss said that this generation had to pay the price for a better future for their children. He said that the postponement proposed by the parliament would not help in solving the economic crisis as two years will elapse so fast.
“As a generation, we may need to pay a bigger price for our children. We can’t keep on postponing. Two years is just like a flick of time, it will be here with us (and) we will still push it like we pushed it two years ago,” Mwangi said.
Because of such a pathetic, idiotic and shallow argument from Eauity Bank CEO, it’s only fair that I don’t bank with him. I will close my bank account and watch such idiocy from far. pic.twitter.com/WOwm1LkU11
— Robert ALAI, HSC (@RobertAlai) September 3, 2018
There has been an uproar over the cost of fuel around the country with Kenyans saying that the cost of basic commodities will go up.
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