Leverage on the findings of the economic survey 2021

The Economic Survey 2021 that shows that the economy lost over 740,000 jobs, which is not purely a Kenyan challenge since we all have faced the wrath of the vagaries of COVID 19. Despite this challenge, the economy recorded positive strides in the sectors of Information Communication Technology (ICT), which grew by 4.8%, which implies that the positive reforms in the mobile and telecommunication sector are bearing fruits. Stakeholders must work with government to increase the uptake of ICT in the country and ensure that the sector leads to better outcomes in many areas of the economy and also ensures that Kenya can export its prowess in the sector, as is the case with entry of Safaricom in the Ethiopian market.

The survey shows that there was an increase in cement consumption of up to 21.3%., where the consumption rose from 6.1% million tonnes in 2019 to 7.4 million tonnes of cement in 2020. Overall, the survey shows that the construction sector grew by 11.8% in the reporting period, having jumped from 5.6% in 2019, hence an increase of 6.2%. This positive growth when compared with the consumption of cement shows that we can leverage on the sector to create more jobs and hence make people to have greater access to jobs that will cure the losses witnessed. It shows that the construction sector is one of the areas that government can rely on to build back better the battered economy.

More good news from the survey came from the fact that the agriculture, forestry and fishing sectors grew by 4.6% in the year under observation. We should be able to build on that success of the sector to ensure that other areas of the sector like maize production as the staple food for the country grows in the next reporting period. It is generally agreed that stable food supply is a precursor for industrialization since people who are well fed can be able to embark on other productive activities. The survey shows that the finance and insurance sectors grew by 5.6%, which should be a pillar of growth in the coming reporting year. The health services grew by 6.7%, hence an indicator of prosperity for the nation.