Kenya's ECONOMY,"A call for immediate reform"

By Irene Mwandishi

Kenya,once seen as a becon of economic promise in East Africa,is now grappling with amyriad infinite of challenges that threaten it's stability and future growth .From a soaring cost of living to a ballooning national dept country find itself at a crossroads.The economic crisis has not only placed immence pressure on households and business but has also raised concerns about Kenya's long-term prospects .As the government faces mounting pressure to address these challenges ,experts are calling for immediate reforms to avert further economic deterioration and restore public trust .

Kenya's economy is currently experiencing a perfect storm of interconnected challenges .On the most glaring issues is the escalating cost of living ,inflation rate have surged in recent years ,with food,prices ,fuel and essential goods seing dramatic increases .For many Kenyan families ,this means fewer meals,lower purchasing power ,and an overall decline in quality of life .The financial strain is particularly fewer for the urban poor ,who spent a significant part of the income on basic necessities.

The country's national dept has become another critical issue.With Kenya borrowing heavily from international lenders and relying on domestic loans to finance it's development projects ,the dept burden is growing unsustainably.A large portion of Kenyan's tax revenues now go towards servicing thus dept ,leaving little room for investment in their essential sectors like health ,education and infrastructure .This financial squeeze has hampered the country's stability to foster inclusive growth and address poverty .

Youth unemployment remains one of Kenya's most persistent and alarming challenges .With over 70% of the population under the age of 35 ,demand for job has outpaced the ability of the economy to create them .Many young people are forced to turn to the informal sector ,where by job insecurity,poor working condition and low wages are norm .While the sector absorbs a large portion of the workforce,it is often vulnerable to economic shocks and lack the stability required to foster sustainable livelihoods.

The government has rolled out initiatives to address youth unemployment,but these efforts have been insufficient in lacking the root cause of jobless.The mismartch between the education system and labour market demands,as well as the lack of sufficient vacational training,continue to be a barrier to unlocking the potential of Kenya's young workforce.

Agriculture is the backbone of Kenya's economy , employing a significant portion of the population.However,the sector faces multiple challenges ,from unreliable rainfall to inadequate infrastructures and poor access to markets for smallholders farmers .These difficulties have contributed to poor agricultural productivity which has direct implications for food ,security and export revenues.The recent droughts and floods , exacerbated by climate change,have only worsened these conditions leaving many families vulnerable and the economy exposed .

Small holders farmers ,who make màjority of Kenyan's agricultural producers ,are particularly hard hit,They face difficulties in accessing credit ,,modern farming techniques ,and market for their goods.Despite efforts by the government to promote agricultural growth,reforms are needed to improve productivity,endure food security and support rural economy .

The political climate in Kenya ,has contributed to the county economic woes.Corruption scandals and governance challenges have eroded public trust and undermine the effectiveness of key government programs.Politicians often priotize short-term political gains over long economic stability ,leading to inconsistent policies that confuse investment and hamper economic growth

Morever election related tensions often destabilize the economy ,as witnessed in a after math of the 2007-2008 post election violence .The resulting instability strifled business activities and led to capital flight .A more predictable and transparent political environment is crucial for fostering investor confidence and enabling economic recovery .

In the place of the pressing issues immediate reforms are needed to steer Kenya back onto a path of sustainable growth .Policy makers must prioritize tackling the cost of essential goods.Additionaly,steps should be taken to manage national dept more responsibly ,ensuring that borrowing is sustainable and that will benefit the broader population .

Youth unemployment must be addressed through targeted skills development programs and reforms to the education system to better alighn with labour markets needs.Promiting entrepreneurship, particularly in the tech and agricultural sectors ,could also unlock new avenues for job creation .

The agricultural sectors ,loss demands urgent attention.The government must invest in climate resilient farming practices ,improving infrastructure and ensure that smallholder farmers have access to modern tools ,market and finance .Additionally ,addressing the environmental challenges facing the sector be key to ensuring long-term food security and economic stability .

Kenya's economy is at a pivotal moment without immediate and comprehensive reforms ,the country risks further economic decline ,which could have devastating consequences for it's citizens.The government must act quickly and decisively to address inflation ,national dept,youth unemployment,and challenges facing key sectors like agriculture .Through collaborative efforts between the government,the private sectors ,and civil society ,Kenya can overcome these hurdles and build a more resilient and prosperous future for all it's people .The time for action is now-Kenya can't afford to wait .

IRENE MWANDISHI

CHUKA UNIVERSITY