Gachagua warned that Kenya risks damaging its economy and international reputation if foreign investors lose confidence in the country.
His remarks come amid a dispute between the Kenyan government and Tata Chemicals Magadi, with President Ruto directing the company to leave Kenya and accusing it of failing to provide sufficient economic benefits to communities in Kajiado County.
Gachagua began his criticism by recalling one of the most controversial episodes in East African history.
“In August 1972, Ugandan Dictator Idi Amin Dada gave foreigners of Indian, Bangladesh and Pakistan descent from South Asia 90 days to leave Uganda,” Gachagua said.
He claimed that about 80,000 foreign investors were subsequently expelled from Uganda and accused the Amin government of taking control of their investments.
“Roughly, 80,000 foreign investors were expelled from Uganda and their investments constricted by the state and allocated to soldiers and concubines,” he said.
Gachagua said Amin justified the decision by accusing the Asian business community of failing to integrate with local communities and exploiting Uganda’s economy.
“Dictator Amin claimed the investors had failed to integrate local communities and accused them of milking the Ugandan economy dry,” he said.
According to Gachagua, the policy had devastating consequences for Uganda’s economy and investor confidence.
“This unorthodox, archaic and reckless decision brought the Ugandan economy on its knees as other investors left the country while new foreign investors kept off Uganda until years later when the dictator was overthrown by Tanzanian Defence forces,” he said.
Gachagua accuses Ruto of frightening foreign investors
Gachagua then drew a direct comparison between Amin’s Uganda and what he described as the current situation in Kenya.
“Unfortunately, 54 years later, Kenya’s new dictator Ruto has caused panic among foreign investors by closing down investments and ordering investors who have been in the country for over a hundred years to close down their investments and leave the country,” he alleged.
The former deputy president said Indian investors had approached him to express concerns over the treatment of their businesses.
“Indian investors have looked for me sharing their plight,” Gachagua said.
He further claimed that more than 400 Indian businessmen had closed their investments after allegedly facing pressure to surrender shares.
“Over 400 Indian businessmen have shut down their investments after Mr. William Ruto and his tribal cronies demanded shares from these investors,” he alleged.
Gachagua also accused the government of targeting properties belonging to Indian families whose leases are expiring.
“Properties owned by Indian families whose leases are expiring are being taken over by William Ruto with the help of PS for Lands Mr. Nixon Korir,” he claimed.
The allegations have not been independently verified.
Tata Chemicals dispute
Gachagua’s remarks come against the backdrop of the government’s dispute with Tata Chemicals Magadi.
President Ruto has ordered Tata Chemicals to end its operations in Kenya, accusing the company of failing to deliver sufficient economic benefits to Kajiado residents despite its long history in the country.
The dispute has placed renewed attention on the relationship between Kenya and major foreign investors, as well as the government’s approach to companies with long-standing operations in the country.
Gachagua went further by making a serious allegation against Tata Chemicals.
“Tata Chemicals have been targeted after refusing to pay a bribe of KSh9 billion or surrender 40% shares to Mr. William Ruto,” he alleged.
Gachagua did not provide evidence to substantiate the alleged KSh9 billion demand or the claim that the company was asked to surrender 40 per cent of its shares.
The allegation therefore remains unverified.
Gachagua warns of economic consequences
The former deputy president warned that what he described as declining investor confidence could have far-reaching consequences for Kenya.
“As we speak, Kenya is facing an economic crisis of unprecedented magnitude; foreign investors are now in panic while new investors are afraid on investing in Kenya,” he said.
Gachagua said his engagements with investors in the United States had reinforced his concerns about Kenya’s investment environment.
“I am in the United States of America where investors have categorically told me that no investor can risk investing in Kenya with what is going on in the country,” he said.
He also accused Ruto of embarking on what he called an “historic high looting spree”, linking the alleged actions to intelligence reports that he claimed indicated the President would lose the 2027 election.
“Mr. William Ruto has gone rogue and he is on an historic high looting spree after intelligence reports presented to him confirmed that he will be voted out of office next year on 10th August 2027,” Gachagua alleged.
The claim about the alleged intelligence reports has not been independently verified.
Appeal to international community
Gachagua called on the international community to intervene and ensure that foreign investors in Kenya are protected.
“On behalf of our Kenyan people I appeal to the International community to reign on Mr. William Ruto; he must be stopped from taking over foreign investments and assure investors that their investments are safe,” he said.
He insisted that Kenya belongs to its citizens and the wider international community rather than any individual leader.
“Kenya is not Mr. William Ruto’s personal property or his animal farm,” Gachagua said.
“Kenya exists in the community of Nations.”
Gachagua’s remarks are likely to intensify the political debate surrounding Kenya’s investment climate, particularly as the government faces scrutiny over its handling of long-established foreign-owned businesses.
The allegations made by Gachagua regarding the alleged demands for shares, properties and payments remain claims that require independent verification and responses from the individuals, companies and government agencies mentioned.
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