This archive report was first published on 10 December 2019.
As the economy struggles, it's time to reassess our priorities and focus on reviving primary industries such as agriculture and animal husbandry. This is not a time for blame games, but rather a call to action to revive the economy.
According to a recent report, Kibos Sugar Company is considering relocating to Rwanda, which would leave over 500 workers jobless. This is a stark reminder of the dire state of economic affairs in Kenya.
Research has shown a significant relationship between economic growth and occupational growth. However, Kenya is unable to exploit this relationship, resulting in unemployment and low income per person.
It's time to prioritize occupational structure and focus on creating jobs in primary industries. This would not only provide food on the table for many Kenyans but also stimulate economic growth.
India's experience is a case in point. The country first focused on the green revolution and then shifted to manufacturing, which has led to a strong service sector that exports to the US and earns foreign currency.
Kenya must stabilize the prices of basic goods and services, including unga, sugar, and milk, to avoid starvation and malnourishment. The government must also be selective in its investments to have sufficient time and independence to do its supervisory role.
Encouraging private investments is key to faster growth and job creation. Public sectors must also be made more efficient to avoid wasteful spending and ensure that savings accrue to citizens.
As the year comes to an end, leaders should focus on increasing income and eradicating poverty by creating employment for the youth. The recent floods provide valuable lessons on the urgency to sustain our environment and protect the vulnerable in society.
