Just a few months back, we feared the worst for the world economies.
As the Covid-19 pandemic ravaged through developed economies to hit at the heart of our very own, fears were rife of prolonged global economic recession.
That said, one cannot discount the devastation seen to livelihoods as the region continues to bleed jobs unabated.
Most recently, restructuring inside several private sector industries, as some of the country’s largest employing entities have been forced to reduce their staff base.
In a country featuring a high dependency ratio, the impact of a few hundred jobs hits home in the thousands with the few employed supporting the many, most of whom sit outside the labour force.
The pressure on small and medium enterprises (SMEs) has been another stress point for the country with the sector accounting for more than three-quarters of all jobs according to data from the Kenya National Bureau of Statistics (KNBS) and contributing to about one-third of GDP.