Kenya’s Economy Headed to the Dogs But Who Cares?
The Kenyan economy is headed to the dogs if the current situation is something to go by.
Once vibrant and kicking industries are now writing their own epitaphs with the few that seem as though they are still alive giving their last kicks as they struggle to remain afloat.
Kenya Airways is still in a critical condition, Uchumi Supermarket is in the Intensive Care Unit, Nakumatt Supermarket just fainted, Mumias Sugar is making its death wish, Nzoia Sugar Company just died and Everready is completely crippled.
The banking sector is not spared either. Most financial institutions have sent home hundreds of their staff, closed down their branches with Barclay’s Bank of Kenya being the latest and the trend is prone to continue as the economic situation gets tougher with each passing day.
Yana tires closed its operations in Kenya and opted for the Indian market and many other foreign companies are closing shop and leaving the country.
Small Medium Enterprises are closing down daily. 80 percent of Kenya’s economy heavily rely on SME and with thousands of them closing down, the economy is surely moving to oblivion.
Ask the busy campaigning politicians. They will tell you that the economy is robust, at its peak and growing with double digits but is it?
How can the economy be growing with double digits when Nakumatt, Uchumi, Nzoia Sugar, Mumias Sugar, Portland Cement and many others are dying?
The economy is headed to the dogs but who cares?