Monday, July 18, 2022 – With less than a month remaining until the August 9th General Election, Kenya has been ranked the second worst country in the world to invest in.
According to the report, Kenya is only better than Colombia in terms of political uncertainty which makes investors shy away from channeling billions for economic development.
This is because of the political heat that is currently being witnessed in the country ahead of the polls that will see Kenyans electing President Uhuru Kenyatta’s successor, with Deputy President William Ruto and former Prime Minister Raila Odinga the frontrunners in the race.
Opinion polls have shown that Mr. Odinga and Dr. Ruto are in a dead heat, with neither likely to garner 50 percent plus one of the votes cast required for an outright victory in round one.
According to the report, which measures economic and political uncertainty in various countries, economic and political uncertainty in Kenya has risen sharply by 84 percent.
The research measures economic and political uncertainty among 143 countries that represent 99 percent of the world’s Gross Domestic Product (GDP), showed that political uncertainty in Kenya is so high,” read the report.
The electioneering period is one of the main causes of uncertainty in the county, with investors fearing an outbreak of ethnic clashes as was the case after the 2007 elections.
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