Kenyan Chief Executive Officers have lifted the lid on the country's biggest risks that are pushing the cost of living over the edge.
In a survey carried out by the 17th edition of the World Economic Forum between May and September 2021, the Kenyan CEOs quipped that the cost of doing business had been affected by the risks.
The company bosses indicated that unemployment and livelihood crises was the biggest risk that Kenyans are facing in the new year.
Debt crises in large economies as well as human-made environmental damage were also ranked among the highest risks.
Prolonged economic stagnation and terrorist attacks closed the list of the five highest risks.
In the report, the CEOs revealed that as the country heads to the 2022 General Election, political aspirants should endeavour to address the issues.
“National risk assessments and resilience strategy reviews should be used to reveal where momentum is insufficient and greater government intervention is needed,” read the report in part.
The risks, which have affected the quality of life, are projected to last for the better part of 2022 unless urgent measures are taken to avert the crisis.
They were caused by the effects of the Covid-19 pandemic on the economy, which led to massive layoffs. By the end of the first year since the pandemic hit, over 5 million people had lost their source of livelihood.
The survey was carried out in 124 economies across the world and involved interviews with over 12,000 CEOs and leaders.
The participants were asked the question: “What five risks will pose a critical threat to your country in the next two years?” and were asked to select these from a list of 35 risks, with no particular order.
In many countries, unemployment as well as climate crisis were sited as the biggest problems that hindered businesses.
Since President Uhuru Kenyatta took over in 2013, the poverty rate in the country has continued to worsen with Kenyans living below the poverty line jumping up by 15 per cent.
