Just days after launching a “rail track to nowhere”, Kenya’s president Uhuru Kenyatta on Friday started his tour of the coastal region and presided over the groundbreaking ceremony for the establishment of Dongo Kundu Special Economic Zone ahead of Mashujaa Day celebrations.
As is expected, State House later released photos from the event through their official social media accounts and one hawk eyed Kenyan pointed out that the president had something very, very expensive on his wrist.
The watch, a A.Lange & Söhne – Datograph Perpetual Tourbillon – Platinum With Dial In Black, has an estimated worth of €298,000 which is roughly around Ksh. 34,522,684.
This, by the way, is just the retail price in Germany, which means Mr. Kenyatta might have dug even deeper into his pockets to acquire the beauty.
This comes at a time when the International Monetary Fund (IMF) warned that Kenya’s ballooning debt risks pushing it into a ‘high distress’ zone.
This, it said will pile pressure on economic growth.
Recent reports indicate Uhuru is still lobbying for 44 loan agreements valued at about $4.1 billion with 15 lenders including the African Development Bank, China, Japan and the World Bank.
If successful, this will push Kenya’s total public debt to over Ksh. 6.3 trillion.