KEPSA maintains Kenya is still an attractive investment destination
By David Indeje / October 13, 2017
The Kenya Private Sector Alliance says the prolonged uncertainty and frequent disruptions arising from this election period are undermining Kenya’s competitiveness in an increasingly competitive global economy.
“Several businesses have been forced to employ a wait-and-see attitude on key investment and spending decisions, as they await the end of the Presidential election process.
The linkages that tie businesses within a complex, integrated modern economy mean that the ripple effects of such decisions have spread to all businesses, and especially, much to our mounting alarm, to Small and Medium Enterprises (SMEs), which account for a large proportion of Kenya’s businesses, and on which much of our economic growth is premised,” said KEPSA in a statement.
The Alliance demands that politicians allow independent institutions execute their mandate and in turn they be non-partisan.
“The IEBC must execute its mandate in a manner that does not undermine Kenyans’ confidence in the conduct of the electoral process, and in the outcomes of this process.”
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The alliance remains optimistic about the economic outlook as an attractive investment destination.
“To all investors, Kenyan and international, Kenya remains an attractive investment destination. Our noisy, colourful and very long election will, in fact, result in the country becoming an even more attractive investment destination, as dispute resolution institutions and mechanisms, and other guarantors of the rule of law, become further entrenched as they pass through this institution “character building” election period.”
According to KEPSA, the prolonged uncertainty and frequent disruptions arising from this election period are undermining Kenya’s competitiveness in an increasingly competitive global economy.