This is not just a reflection of how the pandemic has devastated the Kenyan economy, it is also a badge of approval on the country’s insolvency laws. The new insolvency laws, enacted in 2015, have been useful in helping improve the ease of doing business in the country. Gakuru says bankruptcy and insolvency is one of the things which make people take risks and that with insolvency laws in place, people are not afraid of going to civil jail for taking risks. There have also been cases of businesses or individuals abusing the insolvency process. Moreover, the country should try to expedite the insolvency process.

Source: Standard Digital October 24, 2020 21:00 UTC