Morara says Kenyans are repaying money looted from their own bank deposits through taxes
Political commentator Morara Kebaso has raised the alarm over what he describes as a systemic financial trap engineered to keep Kenyans in perpetual debt.
In a civic education message shared via his official X account on Saturday, July 19, 2025, Morara questioned the role of Kenyan banks, accusing them of abandoning their core function of helping citizens achieve economic growth and instead becoming tools of financial exploitation.
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“CIVIC EDUCATION—Kenyan Banks. A bank is supposed to help you achieve your dreams earlier. For example, if you are a farmer, you need a tractor, but you may need to save your money under the mattress for 10 years to afford buying a tractor in cash. If you buy the tractor 10 years from now, you will be able to farm faster and efficiently and even rent out the tractor to fellow farmers, thus making an extra income,” Morara stated.
Bank operating model
However, he argues that Kenyan banks have drifted far from this model.
“Instead of waiting for 10 years to own a tractor, a bank is supposed to make it possible for you to own it now so that you make the extra income now. With this explanation, do you still think we have anything we can call a bank in Kenya? Why do I ask? The money that the bank was to give you and 1 million other farmers to buy tractors has been given to the government to be stolen so that the government can tax you to pay back the money that the bank gave them, which they stole,” he stated.
He decried a vicious cycle in which citizens are unknowingly subsidising theft through taxes, while their access to affordable credit dries up.
“To add insult to injury, the bank money that was stolen by the government is still your money because you are the one who deposited it in the savings account. The tax that you are paying to enable to government pay back the money they stole is still your money. Therefore, ladies and gentlemen. You are being taxed to pay back what was stolen from you so that the bank can lend it again to be stolen and paid back by you,” he stated.
Morara on Kenya’s credit system
Morara’s remarks come a day after he launched a scathing critique of the country’s financial system, describing it as deliberately structured to entrap citizens in a cycle of debt and poverty.
In a strongly worded statement shared via his official X account on Friday, July 18, 2025, Morara highlighted the stark contrast between Kenya’s credit interest rates and those in other African countries, particularly South Africa.
