This archive report was first published on 6 December 2021.
Published on December 6, 2021, a market perceptions survey by the Central Bank of Kenya revealed that 95 percent of Kenyan Chief Executive Officers (CEOs) are optimistic about improved economic activity in November and December.
The survey, conducted in November among 365 private sector bosses, noted that the lifting of the curfew provided a more flexible environment for many businesses affected by the pandemic.
CEOs are expecting a pick-up in demand during the festive season, with 69 percent anticipating an increase in sales and another 36 percent projecting further growth during the back-to-school seasons in 2022.
However, uncertainties linked to the COVID-19 pandemic and short school holidays remain a concern for 38 percent of the respondents, who fear it could result in lower than usual festive season activity with less travel.
“76 percent of respondents expected the COVID-19 pandemic to remain a risk to the expected pick-up in growth, citing uncertainty both locally and globally, slow vaccine rollout in Kenya, mutations of the virus, and subdued activity in some sectors such as tourism,” the survey added.
Meanwhile, 85 percent of the CEOs projected that food prices will be higher in the next two months due to lower than anticipated rains and drought conditions in some parts of the country.
