Uhuru assures business owners of 'good environment'

The private sector has been assured of a conducive environment for business, with President Uhuru Kenyatta stating that the country is politically stable.

Addressing Kenya Private Sector Alliance (Kepsa) leaders at State House on Monday, the President said the Executive and the Judiciary were functional while the Legislature (Parliament) would open Tuesday, an indication, he said, of the country’s continued progress despite the uncertainty surrounding the October 17 repeat poll.

“Let business continue. No politician will be allowed to interfere with peace and stability. As far as peace and stability in the country are concerned, we are in full control,” he said.

LOSSES
Losses at the Nairobi Securities Exchange hit a whopping Sh120 billion last week.

After the Supreme Court ruling that nullified the presidential election, NSE investors lost Sh92 billion in paper wealth, while the shilling weakened against major international currencies.

But President Kenyatta told investors to ignore the political noise, continue with the growth plans and create jobs for the youth.

“There is no vacuum in government. There is a government in place which is functioning,” he said.

CHALLENGES
Kepsa Chief Executive Carole Kariuki said although economies experience slowdowns during election periods globally, President Kenyatta’s assurances would culminate in a better environment for businesses to operate.

She cited the low lending, reduced employment, lower international trade and reduced activities at the Mombasa port as some of the negative effects of the campaign period.

Ms Kariuki said micro and small enterprises were feeling the pinch.