Take steps to improve farming, industries 

As the year draws to a close and a new one beckons, Kenyans are preoccupied with how they will navigate the next 12 months although there appears to be a consensus that if the government was to deal with high cost of living many of the problems Kenyans are facing would be sorted out.

High cost of goods was a shared global pain arising from Covid-19 knocks, high fuel prices and the ongoing Russia-Ukraine conflict, all of which conspired to increase the cost of logistics globally.

For many Kenyans, drought and inflation added the pain they were already experiencing given that they didn’t have disposable income during this period, and this compelled them to borrow more to take care of their families, pay medical bills and school fees. 

For better tidings next year, two things need to happen. One is that Kenyans must work towards reducing the cost of food and ensure that locally manufactured products are affordable. Importation of food ought to be a thing of the past because it is not only a waste of foreign reserves, but a move in the wrong direction for a country that banks on agriculture to drive economic growth. It is about time for local food stocks to be mapped out and made more predictable by monitoring and evaluating agricultural production, and above all, empowering farmers with cheaper quality inputs. Making fertiliser, irrigation equipment, dams and seedlings more readily available must be made a top priority going forward. Further, post-harvest technologies ought to be harnessed to cushion farmers from preventable losses.

It is also critical for stakeholders to address the key impediments to industrial growth, such as high cost of power, lack of policy stability and predictability, tax administration, illicit trade, among others with a view to making locally produced goods more affordable. As it is, these challenges have led to higher operational costs, which have an impact on commodity prices.

The taxes must also be predictable and not punitive on manufacturers because at the end of the day, it is the consumers who will bear the brunt of higher taxes. From the foregoing, bringing down the cost of living to bearable levels is achievable if government and private sector players deliver on their part. However, this can only happen if those who benefit from failed manufacturing and agriculture sectors are dealt with and stopped from profiteering through imports. What manufacturing and agriculture sectors require is a business environment that enhances competitiveness. 

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