In an interview with Hot 96, a Royal Media Services radio station, Mr. Patrick Nyangweso, CEO of the Kenya National Chamber of Commerce and Industry (KNCCI), discussed the impact of protests on the business community.

Key points to note include:

  • The KNCCI CEO emphasized the Chamber’s call for business continuity to help salvage the economy.
  • He stressed the need for engagement in a National Economic Dialogue to outline the country’s goals and address the needs of the Kenyan people.
  • KNCCI urged stakeholders to support business growth.
  • He highlighted the importance of improving youth employability and upskilling the youth to meet labor market demands.
  • There is a need to focus on smart industrialization initiatives to address the challenges posed by the growing youth population.
  • The KNCCI CEO called upon the private sector to establish incubation centers and value-addition enterprises.
  • He emphasized the need for investment in SACCOs to facilitate access to affordable financial services.
  • He urged the government to offer incentives to the youth, such as tax holidays, to ensure income sustainability, given that many young people are either unemployed or earn low incomes from startups.
  • The government also needs to provide startup financing.
  • KNCCI called for a review of interest rates and the rollout of credit guarantee schemes to support MSMEs lacking collateral.