Industry heads and manufacturers have urged the administration of President William Ruto to roll out various reforms aimed at bettering the economic situation of the country, among them ensuring political stability ahead of the next elections.
In a survey done by the Central Bank of Kenya targeting views and responses from 1,000 CEOs from the private and public sectors on their views on selected indicators, including business confidence and optimism, current business activity, and outlook for business activity in the near term, they raised key concerns that they expected the government to implement to stimulate the business situation.
The CEOs raised concerns about the recent tariff wars between the US and other countries in the world, where Kenya was among the countries that met with a 10 per cent baseline trade tariff.
Following CBK's decision to reduce lending rates for six consecutive months-August last year through June this year-the executives noted that while the move was positive, the decline was too modest to create meaningful change.
