Kenya's top business leaders have a message for President William Ruto: stop excessive borrowing, stabilise the tax regime and create a business-friendly environment before more companies' collapse.
A new survey by the Central Bank of Kenya (CBK) reveals growing concerns among CEOs over high taxation, rising business costs and dwindling consumer demand -threats that could derail economic recovery.
The chief executives are calling for immediate policy shifts, including liberalising air transport to boost tourism and easing regulatory uncertainty to attract investors. "We need predictable policies and a stable tax environment to encourage investment and long-term growth," one CEO is quoted in the CBK Chief Executive Officers Survey. "If Kenya allows more airlines, flights, and routes, we will see a significant boost in tourism, business travel, and overall economic activity," another noted.
The CEOs also criticised abrupt tax and regulatory changes, which they said discourage investors and raise operating costs. "Implement policies that promote lending to businesses.
