Massive layoffs fail to turn around fortunes for companies as prolonged electioneering period and rate cap take a toll

A Kenyan worker wears a dust mask as she works at the Hela intimates export processing zone (EPZ) limited factory in Athi River July 27, 2017. Most companies have recorded profit drops (Photo: Reuters)

Even after massive job cuts throughout the year, most firms are still staring at losses as revenues fall.

This is mainly on the back of reduced business activities in an electioneering year, which were aggravated by a court petition that led to a repeat presidential election in October.