Product shortages loom as dollar crisis deepens

Foreign deposits in local banks stood at the equivalent of Sh922 billion as of last November, according to CBK data. [iStockphoto]

Kenyans are staring at a fresh round of shortages and price hikes of essential commodities such as petrol, food and pharmaceuticals amid a biting shortage of foreign exchange.

Private sector players, including importers and manufacturers, are already reeling from an unprecedented dollar shortage, a situation they say has worsened in recent weeks and could see their operations grind to a halt if unchecked.