KCB Bank CEO Joshua Oigara (left ) signs the Credit Guarantee Scheme agreement with the National Treasury on December 8, 2020 at the Nairobi Serena Hotel. Looking on is National Treasury CS Ukur Yatani (2nd left) and Principal Secretary Julius Muia (seated right).
About 54 percent had faced increased financial challenges while 42 percent were not able to pay employees’ salaries and reported reduced labour productivity in October.
The political climate has already heated with Building Bridges Initiative, while the general elections await in 2022. All these could potentially derail revival efforts.
For businesses, this has been a tough year replete with challenges sparked by Covid-19 pandemic, with majority reporting cash flow troubles, high cost of operation, while some firms have closed entirely.
In a survey conducted by the Kenya Private Sector Alliance (Kepsa), 66 percent of businesses reported a significant drop in sales as at the beginning of the last quarter of 2020.
