Business leaders have been challenged to get into parliament to help shape policies that foster long-term economic growth and sustainability in Kenya.
This will help end unfriendly policies that have seen businesses suffer year-in-year out for lack of enough proper legislation to support the growth of businesses, with close to half a million small enterprises in Kenya dying annually as a result of a tough operating environment.
According to businessman and entrepreneur Kevin Otiende, business leaders and the private sector at large play a significant role in Kenya’s economy, noting that they employ over 95 per cent of the workforce.
However, he pointed out that businesses remain under-represented in Parliament, where crucial economic policies are formulated.
“Business is the
backbone of our economy, and we need leaders in Parliament
who understand its intricacies,
challenges, and potential,” Otiende said.
“Having such leaders in key positions will ensure decisions that protect our economic interests and secure long-term business sustainability.”
Otiende also stressed the importance of electing lawmakers who champion policies that foster innovation and support employee welfare, particularly in light of the growing issue of mass layoffs affecting many sectors.
Data from the Kenya National Bureau of Statistics (KNBS) highlights the private sector’s capacity to address unemployment.
The 2024 Economic Survey revealed that industries such as manufacturing, agriculture, forestry, fishing, and retail contributed more than 16 per cent of private-sector wage employment in 2023.
Small and Medium Enterprises (SMEs), which represent over 90 per cent of the private sector, employ over 14.9 million Kenyans, pointing to the critical role they play not only to livelihoods but also serve as a major driver of Kenya’s GDP growth, poverty reduction, and broader economic development.
“To realise the full potential of
Kenya’s private sector, we need
a stable and predictable policy
environment. This can only be
achieved if more business-minded individuals are elected to
Parliament to pass laws that support
sustainable growth,” Otiende said.
