CEOs reveal the cure for Kenya's ailing economy in new survey

Rebecca Awuor, a trader at Mbita market in Homa Bay County, arranges tomatoes for sale, on December 5, 2023.[Peter Ochieng, Standard]

Kenyan chief executive officers (CEOs) have unveiled a roadmap to revive the country’s struggling economy, calling on President William Ruto’s government to address the high cost of doing business, improve access to credit, and create a stable tax regime.

Their recommendations come from the January 2025 CEOs Survey, conducted by the Central Bank of Kenya, which reveals cautious optimism about Kenya’s economic prospects over the next 12 months.

While firms anticipate growth driven by favourable weather conditions, macroeconomic stability, and declining interest rates, CEOs warn that persistent challenges such as high operational costs, taxation uncertainties, and reduced consumer demand could derail any positive progress.