This archive report was first published on 6 January 2020.
As we begin the 2020s, it's clear that something is amiss with our economy. Official data shows that the labour-intensive manufacturing and agriculture sectors only expanded at modest rates of 3.1 and 3.2 percent respectively in the third quarter of 2019.
With at least 13 companies sending home hundreds of workers in 2019 and employers warning of further job cuts in the new year, the health of our economy can be anything but stable.
Monday, January 6, 2020
President Uhuru Kenyatta's administration must take immediate action to address the economic challenges facing the country. The economy appears to have been left to its own devices, with no economic stimulus package in sight.
Agriculture is a critical sector that needs attention. It accounts for more than one quarter of our gross domestic product and employs nearly 80 percent of the rural workforce. However, corruption has nearly negated years of investment in irrigation, making the sector vulnerable to threats such as armyworm and locust invasion.
At a macro level, the political leadership must listen to employers who are warning of continuation of the job-loss streak in 2020 unless policy uncertainty and cash shortage plaguing the economy are addressed.
