Lower electricity tariffs to stimulate growth

NAIROBI: President Uhuru Kenyatta’s intervention to lower electricity tariffs couldn’t have come at a better time. On Wednesday, the President ordered the legal termination of lopsided contracts with Independent Power Producers (IPPs) that have largely been contributed to the high cost of electricity.

With commodity prices shooting through the roof due to the high cost of production and frequent hikes in fuel prices, the cost of living has been rising steeply. Consumers have been forced to dig deeper into their pockets, reducing their spending power and stagnating growth.