Kenyan economy likely to grow in 2017 - Chris Kirubi

The Kenyan economy is likely to grow by 5.6 to 5.7 per cent this year, according to investor Chris Kirubi. CNBC Africa spoke to Chris Kirubi on the side lines of the 'Future is Kenya' forum organised by brand Kenya where he is Chairman.

Mon, 03 Jul 2017 10:15:36 GMT

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AI Generated Summary

Kirubi's economic growth projection of 5.6 to 5.7 percent underscores Kenya's resilience amid global uncertainties and electoral cycles, with a focus on transparent governance.
The pivotal role of the private sector in stabilizing employment and income distribution aligns with Kirubi's advocacy for dialogues with labor unions and wage equilibrium.
Sustainable growth paradigms within retail culture, exemplified by Two Rivers' success, elucidate Kirubi's vision for bolstering local manufacturing and regional trade synergies.

The Kenyan economy is set to experience a growth spurt this year, with renowned investor Chris Kirubi forecasting a promising 5.6 to 5.7 percent increase. Kirubi's insights were shared during an exclusive interview with CNBC Africa at the 'Future is Kenya' Forum, where he serves as the chairman of Brand Kenya. Emphasizing the importance of upholding democratic principles, Kirubi highlighted the cyclical nature of elections in Kenya, asserting that the government is better prepared to manage potential disruptions compared to previous cycles. He commended the Independent Electoral and Boundaries Commission (IBC) for its transparency and urged adherence to the rule of law throughout the electoral process. Kirubi's optimism extended to economic stability, despite inflation concerns exceeding the central bank's targets. The private sector, according to Kirubi, plays a vital role in harnessing employment opportunities and mitigating income disparities by facilitating dialogue with labor unions and striving for wage balance. Reflecting on infrastructure advancements and burgeoning retail landscapes, Kirubi addressed queries surrounding overreliance on malls vis-a-vis manufacturing initiatives. He defended the sustainability of mall culture, citing successful ventures like Two Rivers, which have garnered significant returns and spurred consumer engagement. Kirubi championed the transition towards increased local manufacturing within malls to catalyze sectoral growth and promote regional trade synergies. Furthermore, he underscored Sentem's strategic positioning amidst market fluctuations, outlining expansion ventures in Uganda and Kenya geared towards agricultural and infrastructural developments. Kirubi projected Sentem's evolution into a long-term investment powerhouse, underpinned by visionary expansions into education, healthcare, and real estate sectors. As Kenya's economic landscape braces for further evolution, Kirubi's strategic foresight positions the country on a trajectory of sustainable growth and resilience in the face of global economic dynamics.