Business leaders have been challenged to seek elective positions in parliament to help shape policies that foster long-term hieconomic growth and sustainability in Kenya.
Kevin Otiende, a businessman and entrepreneur, emphasized the significant role of businesses in Kenya's economy, noting that they employ over 95 per cent of the workforce.
He however pointed out that businesses remain underrepresented in Parliament, where crucial economic policies are formulated.
“Business is the backbone of our economy, and we need leaders in Parliament who understand its intricacies, challenges, and potential,” said Otiende.
“Having such leaders in key positions will ensure decisions that protect our economic interests and secure long-term business sustainability.”
Otiende also stressed the importance of electing lawmakers who champion policies that foster innovation and support employee welfare, particularly in light of the growing issue of mass layoffs affecting many sectors.
Data from the Kenya National Bureau of Statistics (KNBS) highlights the private sector’s capacity to address unemployment.
The 2024 Economic Survey revealed that industries such as manufacturing, agriculture, forestry, fishing, and retail contributed more than 16 per cent of private-sector wage employment in 2023.
Small and Medium Enterprises (SMEs), which represent over 90 per cent of the private sector, employ over 14.9 million Kenyans. These businesses are not only vital to livelihoods but also serve as a major driver of Kenya's GDP growth, poverty reduction, and broader economic development.
“To realise the full potential of Kenya’s private sector, we need a stable and predictable policy environment. This can only be achieved if more business-minded individuals are elected to Parliament to pass laws that support sustainable growth.”
Otiende’s call to action comes at. time when business leaders have been utged to step beyond their corporate roles and into the political arena. He believes their expertise can play a key role in shaping policies that unlock the country’s economic potential, create jobs, and drive sustainable development.
“The private sector is a powerhouse of potential, but it needs advocates in Parliament who understand its needs and opportunities. With the right policies in place, we can transform Kenya’s economy and improve the livelihoods of millions,” Otiende addded.