Here to stay Safaricom, Bidco Africa resilience is focus on customers

Kenya has stepped up the private sector’s role in the economic development, in particular, to facilitate domestic and foreign investments in the industrial sector to boost local production and develop business environment in the country by putting in place legislative framework, laws and procedures.

For instance, the World Bank’s ease of Doing Business Report ranked Kenya at position 80 this year, moving 12 places up from 2016 attributed to among other business reforms, payment of taxes and trading across borders.

One case in point is the manufacturing sector which is seen to play a crucial role in Kenya’s inclusive growth by absorbing large numbers of workers, including by creating many jobs indirectly through forward and backward linkages to agriculture, raising exports and transforming the economy through technological innovation.

The Kenya Association of Manufacturers (KAM) says the current annual GDP growth rate of 5.7 percent, Kenya should double its manufacturing output to reach the government’s target of 15 percent of GDP in five years.

“As Kenya moves towards implementation of the Medium-Term Plan (MTP) III that covers the period 2018 to 2022, the country must develop a new approach to manufacturing development, which will involve reforms to existing policies in order to align them more closely to the objectives as set out in Vision 2030 as well as Kenya’s Industrial Transformation Programme (KITP),” noted KAM when it unveiled its 10-point policy agenda to revamp the manufacturing sector in order to create 300,000 jobs as well as to increase the share of the manufacturing sector in GDP to 15 percent by 2022.

However, losses from the prolonged electioneering period in Kenya has hit most businesses in the country.

The National Treasury estimated the losses at 1 percent of Gross Domestic Product this is between KSh 120 billion and KSh 130 billion.

However, calls for an economic boycott by the opposition risks the country’s growth which has been revised to 5 percent and 5.1 percent for the remainder of the year in view of the prevailing economic conditions.

Moreover, calls to boycott on a number of companies in Kenya is a glaring testimony of the failure of the rule of law and principles of good governance enshrined in the Constitution of Kenya 2010 in the sector which is one of the economic pillars of the region.

Ms. Carole Kariuki, CEO of the Kenya Private Sector Alliance (Kepsa) notes that Kenya is now a viable investment destination attributed to a number of reforms.  

The association has emphasised on national talks to expedite economic revival to spur job creation as well as revive Kenya’s global stature which has been severely damaged.

For companies affected by the calls for boycott, it is prudent for the public to understand contribution they make besides their core business.

For instance, Safaricom, the leading communications company in Kenya with the widest and strongest coverage, exists to fulfill a purpose. “That purpose is to transform lives. We have continued to implement transformative strategies that touch the lives of our shareholders, customers, staff members and other stakeholders,” says Bob Collymore, CEO.

The telco com