RIFT VALLEY INSTITUTE OF SCIENCE AND TECHNOLOGY Last week I had a chance to visit Rift valley institute of science and technology (RVIST) and I have to say I couldn’t help raise the question on who own the popular institution During the short interaction with the institution’s principal Sammy Cheruiyot, I was quick to note that he did not give full credit of the recent development to the government and to be specific the ministry of education. According to their website http://www.rvist.ac.ke the chairperson of the alleged government institution is the retired president of the republic of Kenya HE D.T Arap Moi. The retired president serves also as the patron of the institution. The spirit of harambee When I dug deeper to unearth the truth about the institution’s ownership I was quick to note that the retired president has been funding a lot of projects in the institution. The institution opened its doors for intake in the year 1979 and was as results of the president’s back then effort that helped mobilize the funds through the spirit of harambee. Through his effort he oversaw the purchase of the land and the initial construction of the institution. His Excellency D.T Arap Moi during his tenure helped construct many schools both secondary schools and tertiary institution for example Sacho high school some of which later turned to be private institution when he retired. Sacho high school had been a public school with teachers assigned from TSC, when the president retired it came to the public that the institution was private and the TSC teachers had to be withdrawn. Government funding RVIST The government has been keen to support the technical institution that offer technical courses and RVIST being one of them has not been left out. The government through the ministry of education in the year 2012 funded 16 new classrooms (complete), the Library complex (on-going), science lab complex (Complete) the government also started awarding bursaries to technical students. Through the initiative to empower all students despite their background the government introduced HELB funds to all TVET students as opposed to the traditional public universities students. This has been done in all institution despite their affiliations. RVIST being funded by government doesn’t mean that it is fully owned by the government. Motor vehicle and buses number plates When I was in the compound of the institution I was quick to realize that the plates of the buses and other motor vehicles were similar to those of ordinary private cars. Normally vehicles of government owned institutions such as secondary schools have special plates that have blue color. This therefore could mean that the alleged government institution is private as the government does not allow such plates on their vehicles unless they are welfare buses. Who owns the institution? The government funding the institution doesn’t mean that it fully owned the institution. This could also mean that the retired president co-owns the institution with the government, there is also a high possibility that the retired president also owns the highest shares in the ownership deal. This has remain hidden from the public since the two owners want the general public to view the institution as public since most people prefer public tertiary institution due to cost and resources involved.
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Central bank governor Patrick Ngugi Njoroge while speaking to media houses last year said that Kenya was not ready for digital currencies. Digital currencies include; Beenz, E-gold, Rand and Ven. Crypto currencies such as Bit coin pose a significant challenge to central banks' ability to influence the price of credit for the whole economy. In this article am going to focus majorly on Crypto currencies and to be specific am going to talk about Bit coin, other types of Crypto currencies include Robocoin and Dogecoin. Very few countries in the world allow use of digital currencies due to various reasons. Countries that allow use of bit coins include; united states, Estonia, Denmark, Sweden, South Korea, The Netherlands, Finland, Canada, United Kingdom and Australia. Some countries such as the United States have Bit coins ATM's same way we have bank ATM's. USES OF BIT COINS In developed countries such as the United States bit coins are used just like traditional currencies (coins and notes) to do day to day transactions.
WHY KENYA IS NOT READY TO ADOPT BIT COIN Kenya is not ready to adopt bit coins because they can paralyses the economy. Bit coins can also be used to make transactions that cannot be traced, considering the tech level of our country it is very evident that one can do a lot with bit coins without being traced. Using the deep web one can buy drugs, firearms and any other items that are illegal in our country anonymously. Politicians and other corrupt individuals can also use bit coins to route money from the economy by purchasing bit coins and using modern technologies to either make transaction or make money not traceable. Normally one bit coin exchanges with dollar at $2,600 (according to new York time’s websites) this therefore translates to 269880 as the dollar exchanges with kshs at 103kshs. Although bit coins are illegal in Kenya, people still use bit coins to transact anonymously. The bit coins are readily available for sale on various websites such as; coin base, local bitcoins.com, bitquick, coin corner, bitbargain and xapo. Although one bit coin is exchanges at $2600 one can still purchase a fraction of a bit coin for example 0.0000001 bit coin Story by John Kabiru |
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