Stakeholders in the business sector have sounded alarm over confrontational politics being witnessed across the country, saying the country’s economic stability is at peril ahead of next year’s general elections.
They maintain that rising political tensions, ongoing civil unrest and intense political competition have severely threatened business operations, property, and economic stability.
The stakeholders who spoke during an awards ceremony by Dependable Brands in Nairobi, said that persistent political instability fuelled by the political class has contributed to investor hesitancy where many investors have withheld their resources and are on wait-and-see situation.
This, they said, has slowed down economic recovery and dealt many business losses especially among small and medium enterprises (SMEs).
Top Care Lands Limited Managing Director Amos Karuri challenged the government to ensure that peace is maintained throughout the electioneering period so as not to scare away both local and foreign investors.
“We are urging our leaders to keep the country’s interests first because elections will come and go but Kenya will remain. We plead with them to uphold sanity and discipline in their politics for the sake of our country’s economy,” Karuri said.
The MD, whose firm has been receiving accolades for legitimate land deals with investors, noted that investments in the real estate sector are still stable despite the rising political temperatures but noted that they’d take a dip if there was political acrimony.
The stakeholders raised concerns over use of goons in political meetings saying that they have caused fear among traders and investors.
Tricent College of Medical and Technology CEO Denis Oketch warned that use of goons will only brew anarchy which will in turn hurt businesses across the country and cause a ripple effect to the country’s economy.
“We are in the business of training our youth to be professionals and contribute positively to the country’s economic growth. Let us not erode these gains by using goons and criminals to cause mayhem in the name of politics, especially as we head into a heightened political season,” Oketch said.
Similar sentiments were echoed by Samira Mobiles CEO Grace Mwangi who noted that women-led businesses are likely to bear the brunt of political unrest, if the vice goes untamed.
She reiterated that women in business across the country hold immense power to unlock key economic opportunities in the country as well as creating job opportunities for Kenyans, and therefore must be protected by the state.
They called on warring political factions to halt reckless rhetoric, lower political temperatures, and resolve disputes through peaceful dialogue rather than mass action and confrontational politics.
They pleaded with the government to create a conducive environment for businesses to thrive by ensuring sanity is restored across the country and taming political intolerance which can throw the country into anarchy.
They also called on the government to support business by offering tax reliefs and incentives to enable them grow and contribute more to the country’s economy as well as play part in tackling joblessness.
“Some of the major challenges the business sector is facing include high taxation and we’d wish the government would revise the tax regime to enable businesses grow. The government can also extend incentives as well as reduction of VAT to the sector. This will spur trade and trigger a significant economic growth,” said Anthony Mutysia, a real estate magnate.
MPs Kassim Tandaza (Matuga) and Brighton Yegon (Konoin) called on fellow politicians to uphold high levels of discipline in their political activities for peace’ s sake adding that every politician must be an agent of peace as the country heads towards elections.
The lawmakers concurred that all leaders seeking reflection and elective posts will be voted in on the basis of their work noting that the electorates are woke and making wise decisions at the ballot.
“While others are busy politicking, we are busy in our constituencies implementing development projects that have a huge impact to our people. We believe that today’s voter is very intelligent and only those who have delivered will be considered at the ballot,” Yegon said.
