A new survey has found that the optimal level amongst Kenyan Chief Executive Officers (CEOs) ahead of this year’s August elections was higher than in the previous two general elections.
The Kenya Private Sector Alliance (KEPSA) published the survey in collaboration with TIFA, which incorporated feedback from 173 business leaders from medium and large businesses.
Findings from the survey, conducted between July 4 and July 25, showed that the CEOs’ optimism measured by the Business Confidence Index had 61 index points, the highest in the previous two general elections.
Furthermore, the survey showed that the CEOs project the current business conditions to improve over the next six months, compared to their levels of optimism six months ago.
As inflation, coupled with the supply chain disruptions and high commodity prices, continues to weigh on CEOs’ minds, many believe the future conditions will improve following a change in government.
The survey concluded that optimism about the country’s economic prospects in the next 12 months are greater this year compared to the run-in to the 2017 elections.
Commenting on the report, KEPSA CEO Caroline Kariuki pointed out that increased political stability has yielded higher levels of business confidence through the upcoming August 9 General Election.
“Businesses are usually highly sensitive to uncertainty with fewer jitters implying little to no general disruption to commercial activities,” Citizen Digital reported.
“We are maturing as a democracy. Despite the election being an event, people have realized that this event will come and go. Before three months to the elections, you would feel the tension in the air; you didn’t have to be told,” she added.
