Kenya’s Opposition National Super Alliance is gradually stalling businesses with their bi-weekly demonstrations to demand the overhaul of the electoral body in the capital, Nairobi and other major cities in the country. The protests which tend to be always violent have resulted to altercations between the protestors and the police which affects businesses.
Kenyan government spokesman Eric Kiraithe has said that the opposition coalition has adopted a political approach that continuously creates uncertainty in the business environment. Kiraithe was pleading with Kenya’s to shun from the demonstrations as they are the same individuals that would suffer the repercussions of inflation in the country.
Uncertainty about the new election is unnerving investors and clouding the outlook for an economy that’s already struggling to expand because of a prolonged drought. Kenya is a regional hub for companies including Toyota Motor Corp. and is on the cusp of becoming an oil exporter, with Tullow Oil Plc among firms that are developing at least 1 billion barrels of crude resources.
Companies in Kenya are receiving lower revenue because of the uncertainty, according to the Kenya Private Sector Alliance, the leading industry lobby group. It expects the fresh election to result in increased factory shutdowns, rising corporate and personal debt, the cancellation of international conferences and a slowdown in tourism, the latter being a crucial source of foreign exchange for the East African nation.
The NASA coalition under the leadership of Raila Odinga has advanced their agenda of economic sabotage which in turn affects country holistically. Raila’s supporters have in the past burned and looted from businesses in their protests and as such making business people and investors weary in the wake of the numerous planned demos.
The current government, under President Uhuru Kenyatta’s leadership in the past five years, has invested immensely in improving the business climate to attract both local and foreign investors which have grown the economy to be the fastest growing economy in Africa.