Manufacturing firms are proposing a government stimulus programme to revive their fortunes in the wake of the majority of them witnessing a drop in sales in an environment of weak demands for goods and elevated cost of borrowing.
A Central Bank of Kenya (CBK) survey of CEOs of companies shows 69.2 percent of manufacturing firms reported a fall in sales in the three months ended June 2024 compared with the previous three-month period ended March, forcing 61.5 percent of them to cut production and freeze hiring.
