The Economy that Only Grows and Blooms on Paper
Economic analysts say that Kenya’s economy is set to expand at 6.1 percent during 2019.
Both the World Bank and the International Monetary Fund (IMF) have, over the years, giving the figures that indicated that Kenya’s economy was on the right trajectory.
Despite the good figures and stats issued in five-star hotels about the economy, the truth is, on the ground, the story is totally different. The economy is ailing. It is literally collapsing.
The SME sector, which is the largest employer, taking care of 86% of the population is on its knees. The sector is being choked with multiple taxes, inadequate funds, tough business environment among other things.
The agricultural sector, though seems to be doing fine from the surface, it is dead from within. Maize farmers are contemplating abandoning the crop due to constant frustrations from the government. The horticultural sector is at least trying but it is not for everyone.
Almost every sector is collapsing right before our eyes. Investors are taking off, education is being diluted and manufacturing is just wobbling. The only thing that seems to be thriving, is CORRUPTION.