2022 Politics is Suffocating the Economy, says KNCCI

By Korir Isaac / January 9, 2019




The Kenya National Chambers of Commerce and Industry (KNCCI) has urged leaders to focus more on ensuring that the country’s economy is on the right track as opposed to politicking about the 2022 elections.

KNCCI is concerned that the economy is treading a not-so-rosy path and if the government doesn’t rebuild it in 2019 and 2020, hopes of ever fully becoming sustainable are mere dreams.

According to Kiprono Kittony, the national chairman of KNCCI, the World Bank has projected Kenya’s economy to grow by 6.02 percent this year from 5.475 in 2018.

However, Kittony said, this positive outlook could be affected by the high-octane politics that is gaining momentum, especially on a referendum and the succession politics of 2022.

The prolonged electioneering period of 2017 affected the economy greatly and the country has not fully recovered. This is evidenced by profit warnings of companies listed on the Nairobi Securities Exchange.

The consequences of political instability on the economy include a reduction in investments due to unfavorable business environment as well as slow growth. Poor performance, on the other hand, may lead to political unrest and the collapse of the government.

Currently, the situation in the country calls for more attention. All indications point towards the need for more effort in salvaging the political economy in the country not to mention the need for the improvement of the quality of life of citizens across the country.

Meanwhile, the political upheavals continue to rock the country with President Uhuru Kenyatta saying he will not be blackmailed by individuals looking disrupt the efforts he and Raila Odinga are making in uniting Kenyans.

The sentiments also come at a time when several MPs from Central Kenya have accused President Kenyatta from shelving parts of the region that didn’t support him in terms of development

The urgent need for political stability suggested by the KNCCI means stronger institutions, rooting out corruption cases, ensuring a favorable business environment, and upholding the rule of law. With all these in check, at least, the country’s economy and the political environment will be stable and sustainable.

Nonetheless, KNCCI has also urged the government to reconsider its position on interest rate capping and other policies that are hindering small businesses from accessing capital.



About Korir Isaac

A creative, tenacious, and passionate journalist with impeccable ethics and a nose for anticipated and spontaneous news. He may not say it, but he sure can make one hell of a story.

View other posts by Korir Isaac


More Articles From This Author








Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2019
  • January 2019 (256)
  • February 2019 (216)
  • March 2019 (219)
  • 2018
  • January 2018 (291)
  • February 2018 (220)
  • March 2018 (279)
  • April 2018 (226)
  • May 2018 (240)
  • June 2018 (178)
  • July 2018 (257)
  • August 2018 (250)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (286)
  • December 2018 (187)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (206)
  • July 2017 (190)
  • August 2017 (196)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (167)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (249)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (171)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950