Kepsa to map out impact of coronavirus on businesses
Nicholas Waitathu and Noel Wandera
TRADE: Kenya Private Sector Alliance (Kepsa) has started engaging its members to calculate the projected economic impact of coronavirus in each sector.
The collated input will inform the development of a rapid response mitigation plan to minimise the impact of the outbreak on the Kenyan economy.
It will also allow the private sector to measure the impact of the expected global slowdown of trade on Kenya.
Kepsa chief executive Carole Karuga said, in a statement, her organisation was encouraged by Executive Order No 2 of 2020 issued by President Uhuru Kenyatta, which provides a platform to address emergency efforts on the outbreak.
“Kepsa will present collated members’ proposals during the quarterly engagement with the National Development Implementation and Communication Cabinet Committee (NDICC) roundtable chaired by interior Cabinet secretary Fred Matiang’i in early March and work with the government on economic mitigation actions,” said Karuga.
“Some of our private sector players with a critical reliance on imports from some of the affected regions are activating other supply chains and sourcing options to mitigate imminent disruptions before global trade settles back to normality,” she said.
This comes as local traders feel the heat of China lockdown following the coronavirus outbreak two months ago.
Reduced flights
Speaking yesterday after being handled over the Trade ministry by the outgoing and current Agriculture CS Peter Munya at the ministry headquarters in NSSF Building, Trade Cabinet secretary Betty Maina said the lockdown means traders are unable to replenish their stock which is running out fast.
“We have received complaints from local traders who import goods from China that their supplies are running out fast following reduced flights from and to the region,” said Trade Cabinet secretary Betty Maina.
However, Maina said the minister will engage traders and other stakeholders with a view to ascertaining the actual situation on the ground.
Even as the current trend hurts local traders who source their merchandises from China and other affected countries, Maina said it presents an opportunity for them to diversify imports over and above boosting local supplies to counter sale of counterfeits.
