LETTERS: Are we on the verge of an economic crash?

It is no longer a secret that the Kenyan economy is on the verge of a crash. The massive job losses, skyrocketing food prices and the high rate at which many companies in Kenya are either closing shops or struggling to keep afloat point to an economy that is nosediving overpoweringly.

As of August 2019, the Registrar of Companies had listed some 388 companies as having been dissolved between March and August. The collapse of businesses and high cost of living in Kenya are a culmination of longstanding and unresolved unemployment in the country. When unemployment rates are high, consumers have less money to spend, which negatively affects among other things sales, profitability, retail stores, housing markets, and stocks.