Chief of staff in the Office of the President Nzioka Waita was on Tuesday engaged in a Twitter spat with economist David Ndii over a ‘failed civil’ conversation.
It all begun when Waita refuted claims that President Uhuru Kenyatta is headed to France to sign a loan deal.
Waita said the story by the Daily Nation which said Uhuru will leave the country on Wednesday for the Sh180 billion loan deal was ‘misleading’ and ‘full of lies’.
“How does a PPP become a loan? Your story is an outright lie.The Nakuru-Mau Summit Super Highway will be a TOLL road given to a concessionaire to finance, build & operate .Thru the Toll Fund recently enacted by @NAssemblyKE GoK will guarantee availability of traffic,” Waita said
But Ndii said to “guarantee availability of traffic” means that if toll revenue does not meet the hurdle rate, the government would have to meet the shortfall.
A hurdle rate is the minimum rate of return on a project or investment required by a manager or investor.
Are you incapable of having a civil conversation? First you insult my deceased father then you insult my professional standing? It’s unnecessary but seeing as you harbour so much angst from being an ‘economist’ that only gets to practice on Twitter I understand & I forgive.
— Nzioka Waita (@NziokaWaita) September 29, 2020
Ndii continued, “And usually the project cost is inflated so that if hurdle rate is say 15% the actual ROI is probably 20%. Its called “de-risking”. In short, its off budget debt.”
In a quick rejoinder, Waita asked Ndii if he is capable of having a decent conversation.
“Are you incapable of having a civil conversation? First you insult my deceased father then you insult my professional standing?” he posed.
He added: “It’s unnecessary but seeing as you harbour so much angst from being an ‘economist’ that only gets to practice on Twitter I understand and I forgive.”
But this did not deter Ndii from speaking his mind . He went on to make accusations against the Chief of staff.
Waita told him off saying that Ndii is a “failed pseudo intellectual masquerading as a saviour of people.”
“…While you actually spend most of your time prostrating for cheques and handouts from your benefactors whose tune you gladly sing,” he said.
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