The prospect of economic recovery in 2021 has encouraged businesses to make new investments and resume hiring. Business managers polled in Stanbic Bank’s Purchasing Managers Index (PMI) say the rate of new hires in January was the highest recorded since last October. This trend is likely to continue as the Treasury expects Kenya’s economy to bounce back to 6.4 per cent growth in 2021 from an estimated 0.6 per cent in 2020.
Despite this encouraging outlook, a series of economic and political reforms are needed to breathe new life into Kenya’s Vision 2030 aspirations of becoming an industrialising, middle income country over the next decade.
