Jitters among investors as Ruto rattles businesses

Businesses and investors are growing uneasy over President William Ruto’s recent directives affecting foreign traders and Tata Chemicals Magadi. [Courtesy, Standard]

For decades, the script during every election cycle in Kenya has always been the same for businesses. Pause any major plans; wait and see the outcome first. As a result, economic growth during the electioneering period has been at a slower rate compared to previous years.

And now, President William Ruto has pushed this political uncertainty a notch higher with his utterances. Twice in one week, Dr Ruto has rattled investor confidence, initially ordering a crackdown on foreigners who are seen to be taking away opportunities for Kenyans and further ordering Tata Chemicals Magadi to park and leave.