Rising insecurity hurting country’s economy

They were asking us what religion we professed, recounted a survivor of the Mpeketoni massacre, they then shot those who were not of their religion.

This heart-wrenching account sends cold shivers in the hearts of many.

When news broke that a gang of about 50 had overrun Mpeketoni in Lamu for hours, the whole country cried out: Not again. Yet that is what had happened.

At least 56 people lied lifeless.

The spasm of panic that this bout of violence has sent across the country is telling.  The economy is struggling to pick pace. Yet all the while, the political class is bickering, name-calling.?

Whether it was caused by a terrorist group or not, a life lost is one too many for the country. Yet it is the effect that what seems to be runaway insecurity is doing to the economy that is worrying. While it is still unclear at what pace the economy, East Africa’s largest, will grow this year, rising cases of insecurity are piling pressure on the economy. Matters have been made worse by poor rainfall distribution.?

Although the US-based rating agency A.M Best has given Kenya the same score as volatile Libya, Nigeria and Egypt, a divided and bickering political establishment has done little to improve the situation.

This rating is based on Kenya’s deteriorating economic, political and financial system risks.

It is also notable that Kenya is still on the watch-list of the global Financial Action Task Force (FATF) as a jurisdiction with key deficiencies in the control against money laundering and terrorist financing.? Kenya has also been rated among African countries with the highest risk for insurers, pointing to yet another challenge that East Africa’s largest economy faces in its quest to attract investment.?The tier-five score means foreign investors coming to Kenya must take additional measures to shield themselves against abnormal risks such as political instability, sabotage and terrorism to protect their businesses.?

A.M. Best warns that the risks present a great hazard to the credit quality of underwriters in Kenya – as witnessed by the huge exposure they face with the surge in claims paid out in the wake of persistent terrorist attacks.?

It is worrying that politically-instigated land clashes have erupted in Lamu and could spread out throughout the Coast region if the State agencies do not intervene in time.?It is not enough to shuffle around junior police officers in Lamu, Garissa or Wajir while terrorist cells and criminal gangs are left alone.

?It is frightening to imagine that the National Intelligence Service knew in advance the planned attack in Lamu, and yet those who had this intelligence never bothered to act on it.?Since 2012, there have been numerous attacks involving grenades or explosive devices in Kenya.

Between January 2012 and January 2014, a total of 27 improvised explosive devices attacks occurred in the country, causing the deaths of 128 people and injuring another 427.  These attacks have mostly occurred in the North Eastern, Nairobi and the Coast regions, targeting police stations and police vehicles, nightclubs and bars, churches, mosques, religious gatherings, business premises or bus stations.?No one is safe and there is nowhere to hide.

Something must be done and quickly, before anarchists take over the streets, highways and villages centres.