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As Kenyans reflect on a challenging year marked by a high cost of living, surging taxes, fiscal distress and high unemployment rates, the collective hope is for a brighter future in the coming year.

However, hope alone is not enough, what Kenyans need is a meticulously crafted plan to steer the nation to navigate the economic challenges its facing.

When Kibaki assumed office, he inherited an economy shackled by sluggish growth and unemployment. The current leadership claims they inherited empty coffers.

For Kibaki, instead of lamenting about it, he chose to lock himself at the house on the hill. He came up with a strategic blend of policies and reforms, which helped transform Kenya into an enviable economic powerhouse that we still brag about.

By embracing fiscal discipline, prioritising infrastructure and education, attracting foreign investment, and steadfastly combating corruption, they can build upon the foundation laid by this visionary leader.

For starters Kibaki made his tenure an intentional fight against corruption, instituting reforms to enhance transparency and accountability, laying the groundwork for ease of doing business and service delivery.  He was not only able to help eradicate corruption but also contributed to an environment where businesses thrived and Kenyans could trust in the integrity of public institutions without fear or favour.

Another key issue that characterised his tenure was his commitment to fiscal discipline. As an economist, the former President recognised the critical importance of sound financial management and implemented measures to rein in excessive government spending.

Much as this administration has tried to cut spending, the surge in unnecessary recurrent expenditure continues to hurt the economy. It is through prudent budgetary controls that Kibaki successfully curbed inflation and stabilised the shilling, laying the groundwork for a lively economy.

Leveraging infrastructure development as a cornerstone of his economic revival strategy, Kibaki came up with several ambitious projects that not only facilitated efficient transportation but also stimulated economic growth by creating jobs and attracting investments. We are yet to achieve this with the ambitious housing projects currently being fronted by the administration and a lot needs to be done to excite this sector for targeted growth.

Kibaki was intentional with education, which saw many Kenyans flock to school for free education. He understood that a well-educated population is the bedrock of economic growth. There was a surge in budgetary allocations to the education sector, expanding access to quality education and nurturing a skilled workforce. With the current changes that have seen the current administration increase school fees, this is a reminder to this administration to consider changes in tack to ensure education is made more affordable to empower the youth and spur innovation.

Above all, his economic blueprint embraced the ease of doing business that attracted both local and foreign investment. A conducive business environment, complete with investor-friendly policies, is the only way to attract capital.

With increasing bilateral and multi-lateral engagements at the top echelons of leadership, this is the time for leaders to learn how to join the dots and help the country ease the interconnectedness of the global economy by ensuring these partnerships stimulate economic growth by attracting investors who can create jobs for economic growth.

This can go a long way if the administration listens to the needs of investors and calls from their ranks and files so that they can open the purse to pump money into the country.  This conversation should include local investors who have been claiming that on top of the agenda is to bring down high tax rates, which affects the appetite for investment.

Merry Christmas and Happy New Year.

— The writer is the PD business editor