This archive report was first published on 16 June 2020.
As the COVID-19 pandemic continues to affect the country, a recent survey by audit and research firm PFK has warned that seven out of 10 businesses in Kenya are at risk of closure if restrictions are not eased within the next 90 days.
Published on June 16, 2020, the survey involved 400 companies and found that five of these businesses have already reduced their wage bill to stay afloat.
According to the survey, half of the businesses in the country expect a recovery in the first half of 2021, with companies expecting to bounce back to pre-COVID 19 levels in six months, depending on the severity of the virus.
Another 46 per cent of the businesses have forced their employees to take a pay cut as a survival tactic.
Despite the challenges, the government has released new guidelines for the partial re-opening of the economy, targeting sectors with high human contacts such as manufacturing, tourism, and trade.
The guidelines call for social distancing measures to be in effect, while businesses are supposed to keep a record of all visitors within their premises.
County governments are expected to start providing water and hand sanitizers to traders operating in public markets, and all people entering into business premises will have their contact and temperatures readings recorded for easier contact tracing.
The Kenya Private Sector Alliance has lauded the guidelines, urging the government to start easing the COVID-19 restrictions.
