FKE wants Raila, Uhuru to dialogue

FKE Executive Director Jacqueline Mugo during a press briefing

NAIROBI, KENYA: The Federation of Kenya Employers (FKE) wants parties in the upcoming presidential election to consider dialogue to deliver the country out of economic crisis

The federation said it has recorded 30 percent decline in tourism business while economic growth is on a standstill.

“We appeal for meaningful dialogue between Jubilee and Nasa in order to address issues before them for the country to come out of the current political quagmire, we also believe as a federation that no matter is big for the two to resolve if they engage in dialogue,” said Executive Director Jacqueline Mugo

“History shows that parties who take hardline position in any contest live to regret it,” she noted.

Analysts have warned of a bleak future for the economy in the wake of a fresh political impasse after Opposition leader Raila Odinga opted out of the October 26 repeat presidential poll.

Investors at the Nairobi Securities Exchange (NSE), lost Sh15 billion in paper wealth, with capitalisation standing at Sh2.34 trillion by close of trading on Wednesday last week.

NSE’s benchmark 20-share index recorded a 1.4 per cent decline by the end of trading on same day as Opposition supporters took to the streets for the second time this week in their push for electoral reforms after Raila pulled out of the repeat poll on Tuesday (last week).

The index - used to track the performance of the NSE equities (shares) market - dropped to a four-month low of 3644.80 points. The bond market, however, rose fourfold during trading, with turnover reaching Sh809 million compared to Monday’s Sh212 million.