Four things traders want from the next President

view original post

Kenyans vote for a new President on August 9. Depending on how the polls are conducted, we may have a new President inaugurated as early as September this year.

In a worst-case scenario of petitions and reruns, the next President may be inaugurated several months after the August polls. A prolonged period of electioneering is bad for business because both local and foreign investors would have to wait for the final outcome before implementing anything. Whenever businesses are in a state of uncertainty, there is little growth in the economy, with no new jobs created.

Whoever becomes President will have a lot of work stabilising the economy amidst the highest public debt in Kenya’s history, rising food prices and a youthful population demanding jobs.

The 2021 Economic Survey shows that 84 per cent of Kenyan workers are in the informal sector, meaning that micro and small enterprises should be the focus of job creation. There is a role, too, for big industry in producing high-quality goods both for local consumption and export.