Kenya Association of Manufacturers calls for bold actions to save economy
Kenya’s dwindling business competitiveness could dampen the country’s economic prospects if the Government does not intervene and lower power and logistics costs. The need to improve on exports and remove non-tariff barriers could be the silver lining in handing Kenya a fighting chance to be the darling of East Africa. Tobias Alando, Acting CEO, Kenya Association of Manufacturers joins CNBC Africa for more.
Thu, 12 Dec 2024 15:07:06 GMT
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AI Generated Summary
- Kenya's economic prospects are at risk due to high power and logistics costs, necessitating government intervention for sustainable solutions.
- Improving exports and eliminating non-tariff barriers are crucial steps to enhance Kenya's competitiveness in the East African region.
- The call for bold actions underscores the urgency of addressing key challenges to secure Kenya's position as a leading economy in the region.
Kenya's business competitiveness is at risk, with potential negative consequences for the country's economic outlook, unless the government takes decisive action to address key challenges. Tobias Alando, Acting CEO of the Kenya Association of Manufacturers, highlighted the urgent need for intervention to lower power and logistics costs, improve exports, and remove non-tariff barriers. In a recent interview with CNBC Africa, Alando emphasized the importance of these actions in positioning Kenya as a competitive player in the East African region. With neighboring countries making strides in business attractiveness, Kenya must act swiftly to secure its position and unlock its full economic potential. The call for bold actions underscores the pressing nature of the issues at hand, as Kenya faces crucial decisions that could shape its economic future. Alando's insights shed light on the critical areas that require immediate attention and strategic interventions to mitigate risks and maximize opportunities.
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