Improve business environment to lift majority from poverty

The increasing inflation rate in Kenya is worrying. It indicates the prevailing dire economic environment might take longer to resolve. Businesses, especially those in the lowest cadre are the most affected. The situation is not helped by the political tension that keeps cropping up every time

The majority of Kenyans are dependent on these businesses for their daily consumption, thus the need for stability.

Kenyans must realise that their economic fortunes cannot improve through imports but through investing in production.

We should also support and encourage local and foreign investors through tax incentives, zero rate tax on raw materials, and cost of production to be looked into while custom duty on the importation of finished products should be increased.

The intervention shall bring productivity and stability, which in the long run, will result in job opportunities. A strategy by the United Arab Emirates 50 years ago is a good case study.

Dubai was at the same level as Kenya but its government capitalised on local minerals and resources in production before importing. The Kenya Kwanza regime has the responsibility to come up with an economic model that is friendly to businesses, increases competitiveness and positions the country as a suitable business destination in Africa.

The bottom-up model promoted by President William Ruto's government would especially benefit small enterprises and lift the livelihoods of the majority of the country's citizens.

Emphasis on the devolved unit will facilitate the realisation of economic prospects if clustered in different economic zones.

To ensure counties fast-track their collection of target revenue, there is a need to review the country's revenue-sharing formula and have it based on the percentage target.

Government wastage also has to be cut down. We've seen many times how people entrusted with public office have used their positions to enrich themselves.

Also, ongoing projects should get priority in funding. This way, taxpayers' money will not be lost, and value for money may eventually be realised.

The writer is the CEO of Comfort Homes