Download How Uhuru can easily lead us

The Standard on Saturday
Date: 02.11.2013
Page 16
Article size: 191 cm2
ColumnCM: 42.44
AVE: 97622.22
How Uhuru can easily lead us
to super economy in the region
The World Bank has advised
tal on a world war scale and urgency.
One way of doing this is building
quality investments in roads, light
Kenya to put more effort in growing
its exports to achieve double­digit
of about 250,000­500,000 low cost
growth.
The bank said Kenya's share of
occupation. This way millions of
rail, sewer, water and electricity at
the new bousing schemes would
lead to less congestion and be Her
security. The other way of accelerat­
Kenyans trapped in rental lifestyles
ing growth is by gazetting as export
world merchandise exports has
shrunk by 75 per cent since inde­
pendence. According to it, growth in
Kenya is driven by imports leading
will move into the new homes for
processing zones, all coffee and tea
ownershipoccupation.
factories, so that value addition may
to high domestic consumption.
This uneven growth pattern is of­
ten compared to a plane running on
one engine. Sooner or later it must
land for repairs.
homes per year for tenant purchase
In turn, landlords would be
forced to invest in industries. Many
things would happen as a ennse­
quence. One, quality employment
be done in tax­free environment.
This would create other ventures
like packaging, blending, marketing
and research.
The bank said
Another way is to upgrade the
Numerical Machining Complex to
that Kenya's
a fully­fledged car manufacturing
speculative attacks on the shilling,
share of world
merchandise ex­
causing unspeakable havoc like ad­
justments upwards of Government
ports has shrunk
by 75 per tent
ation like petrochemical industries.
contracts and northbound inflation.
It also causes rise in interest rates
since indepen­
power generation sector.
In our case, this has often led to
dence.
leading, therefore, to low invest­
ments. Bottom line? High unem­
ployment.
So having looked al lire problem,
we need to look for solutions. How
can Kenya industrialise quickly?
This can be done by attacking
the economic malaise from various
fronts. Industrialisation requires
mobilisation of resources and capi­
would take place on a big scale.
Two, land hoarders and speculators
would be forced to offload, leading
to downward adjustment in land
prices.
Three, bank interest rates would
be adjusted downwards lo about 5
per eeni­H percent range, leading to
more domestic investments. Four,
facility. Our mining laws should also
be geared towards employment cre­
Finally, the Government can free
There are many ways of gener­
ating power. And it should not be
mandatory that all power must be
sold to the national grid because this
only goes to increase energy costs
due to inefficiencies of monopoly.
Let us grow this economy, Presi­
dent Uhuru Kenyatta always urges
us to. But he must lead the way.
Kariuki Muiri, Karatina
Ipsos Kenya ­ Acorn House,97 James Gichuru Road ­ Lavington ­ Nairobi ­ Kenya