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Political spat sparks jitters over Kenya’s growth outlook
An investor monitors the day’s trading at the Nairobi Stock Exchange. Investors suffered erosion of wealth as foreigners scaled down their participation at the bourse, cutting down volumes. Photo/FILE
Rising hostility between Kenya’s coalition partners is relegating economic agenda from the national platform and eroding the prospects of recovery at a time when conditions are ripe for growth, business leaders warned on Wednesday even as politicians hardened their positions.
Foreign investors, manufacturers, bankers and private equity specialists who talked to Business Daily said the quick turn of events since Friday last week has elevated Kenya’s political risk profile to a new high raising the prospect of pulling back the pace of economic activity.
