At least 20 per cent of small businesses in the country have closed permanently due to economic pressure brought about by Covid-19. A Medium and Small Enterprise Covid-19 Tracker Survey by the Central Bank of Kenya, FSD and Kenya National Bureau of Statistics shows 11 per cent closed during the 2020 lockdown period, while nine per cent closed between November 2020 and March 20. ''Only 27 per cent of businesses, which closed during the lockdown in 2020, had reopened by March 2021,'' notes the survey. Depleted resilience has rebounded on business households as well, with food insecurity rising from 14 per cent to 61 per cent during the 2020 lockdown. About 45 percent of businesses had loans outstanding in November 2020, mainly from mobile banks and Chamas (informal banking groups).

Source: The Star July 27, 2021 00:56 UTC