The Power of Business Partnerships, Amid the
Covid-19 Crisis in Kenya By Josephine Wawira
Our daily way of lifehas been disrupted!The resulting social and financial outcomes being among others business closures, job loss, halted classroom studies, overwhelmed healthcare systems; not to mention the shutting down of industries that are solely the source of livelihood for millions of families across the world. Some companies have been forced to incorporate pay-cuts and unpaid leaves in their business continuity plans, at least to try to remain afloat during the coronavirus pandemic. On a larger scale, the export and import sectors have come crumbling down, as nations continue shutting their borders to curb the spread of the novel virus. According to the Kenya Private Sector Alliance (KEPSA)in its Economic Framework for COVID-19 response, thecrisis will have severe impact on economies across the world. Kenya’s 2020 GDPgrowth rate isexpected to drop by -51%, from a forecast of 6.1% to a meager 3.0%.Among economic sectors experiencing reduced demand include manufacturing (non-essential), education, tourism and leisure, aviation and maritime, all of which generally contribute a great deal to the growth of Kenya’s real output growth. Essential services like agriculture, manufacturing of essential items, medical supplies and services, healthcare, ICT, e-Commerce, food processing and retail have on the other hand registered increased demand in the country. Abyssinia Business Nework መጋቢት
The national apex body of the private sector has further stated that massive job loss is another blow dealt to the Kenyan economy; with a likely loss of 1.5M to 3.4M jobs in the short term. The range is highly dependent on impact in agriculture and tourism. For most, stuff has already hit the fan. But while all hope may seem to be in the verge of being lost, the business community inthe country is increasingly taking the moral high ground, uniting to help mitigate the negative effects of Covid-19 to the public, especially the most vulnerable communities.
“We understand our obligations to the communities where we live and work, and during this time, we have stepped up our efforts to ensure they deal with the challenges of food and hygiene. The journey has been tough, and to make it more impactful, we have partnered with fellow companies; public and private sector players, that share same interests with us, to uplift the members of our communities,” says Vimal Shah, Chairman – Bidco Africa.
ወር 2012 March 2020
