“IMF under pressure agrees to take Brookside Dairy as collateral for the GoK [government of Kenya] loan,” its headline reads.
In April, the IMF approved a three-year US$2.34 billion (KSh255 billion) loan to fund the next phase of Kenya’s Covid-19 response, sparking outrage on social media. Many feared the loan would be misused by president Uhuru Kenyatta’s government.
But has the IMF “agreed” to take Brookside Dairy as collateral for its loan to the Kenyan government?
Satire is a broad category, but can be defined as “the use of humour, irony, exaggeration or ridicule to expose and criticize people’s stupidity or vices”.
The satirical Posta Mate story says Brookside Dairy Limited, “owned majorly by Uhuru Kenyatta, has several other shareholders who will suffer collateral damage should GoK default on IMF loan repayment”.
It adds that the IMF taking the company as collateral is a strategy to prevent government leadership from looting the loan funds.
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