President William Ruto's economic advisor, David Ndii, has sounded an alarm that Kenya will continue to witness a decline in the construction sector, largely affecting employment.
Ndii was reacting to the latest report by the Kenya National Bureau of Statistics (KNBS), which showed that the construction sector had a decline in growth of 0.7 per cent in 2024 compared to the 3 per cent growth registered in 2023.
According to Ndii, the sector that at once drove the economic momentum and employed thousands of Kenyans was declining because, at its peak, most construction projects were financed by debts, which the government is now halting. ''The construction boom was debt-financed.
Party is over," Ndii revealed.
