By Otieno Nyabemba
India opted to use demonetisation as a means of fighting corruption under the naive imagination that it was going to work like magic …
The move achieved nothing after the country’s central bank, confirmed that 99.3 percent of the demonetized notes had been returned to the banks:
It later emerged that it was an idea that was largely inspired by a Bollywood movie …
With the benefit of hindsight, Kenya still went ahead and employed the failed Bollywood movie script to fight graft and sunk 15 billion into printing new currencies only for 98% of the old currency to be returned:
Just like Huduma, my take on this one is that the demonetisation circus was just a front to create an inflated tender worth 15 billion and we fell for it hook line and sinker … 😎
