If you have been active on Twitter today, there has been one name that has been trending for the better part of the day: Sonko Malong. Chances are that you do not know who Sonko Malong is. So, who is this mysterious human being?
To put it into perspective, Sonko Malong is not an actual human being. That is a character created by economist David Ndii to drive his point home. This all began when Lawyer Donald Kpkorir was exchanging some words with the economist on social media.
Kipkorir thought it wise that the government authorizes printing of more currency to help mitigate the ever dynamic COVID-19 situation. David Ndii considered his argument as a “wash wash” economic way of thinking.
While the lawyer criticized Ndii for not reading “The General Theory of Employment, Interest & Money”, the economist hit back at him with the theory of Young Billionaire Sonko Malong.
In summary, Kipkorir was supporting for printing more money to be in circulation while Ndii was in support of quantitative easing.
To prove his point, Ndii used the fictional nations of Kiplombe and Cheptongei to break down why quantitative easing was not the same as printing money.
The theory talks of how the President of Kiplombe, Sonko Malong, ordered the printing and distribution of 3 million Kiplos (the currency in Kiplombe) after winning the election, much to the delight of many citizens.
Malong’s decision, however, affected established trade relations between Kiplombe and Cheptongei which had been trading bags of maize and beans for years.
The new money in circulation had driven up the price of a bag of maize in Kiplombe to 4,500 Kiplos a bag from the previous 3,000 Kiplos, meaning Cheptongei did not have enough Kiplos in its forex reserves to purchase the maize at that price.
In response, Cheptongei were only willing to sell their beans at the hiked price of 9,000 Cheptos (the currency in Cheptongei) to enable them to raise enough Kiplos to purchase maize from Kiplombe at the new price.
As a final blow, Ndii ended by saying ” You see, Young Billionaire Sonko Malong, LLB YB (Wash Wash) has no idea where stuff comes from. All he knows is, you have more money, you buy more stuff”.
This clever narration has some few Easter eggs that come with it. Cheptongei, for example, is the name of the village where Kipkorir hails from in Elgeyo Marakwet County.
The name Malong references the infamous Sudanese Malong Yor who was arrested and charged with Ksh 200 million fraud.
Malong initially hit the headlines after he uploaded several photos and videos of himself ‘swimming’ in United States Dollars on Facebook before later appearing on the Jeff Koinange Live talk show where he flossed about his wealth.
Finally, the name Sonko might have been inspired by Nairobi Governor Mike Sonko, another man known for flaunting his wealth.
Read the full story below: