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Friday, February 20, 2009

NSSF (Kenya) vs Temasek (Singapore)

I admire Lee Kuan Yew (the former PM of Singapore) for the discipline he installed in Singapore.

As has been many times before, economically Kenya & Singapore were at 'similar' levels in 1963 except Kenya has much more 'potential'.

Singapore had LKY. Kenya had crooked wa ngengi (aka jomo 'land grabbing' kenyatta) & then dan 'uber-thief' moi.

Singapore has a Sovereign Wealth Fund called Temasek. Acknowledging deficiencies in managing the SWF, Singapore has hired heavy hitters who happen to be expats.

Kenya has NSSF. The same corrupt board is 're-hired' even after losing billions in scandals.

Sigh.

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