Most have cited a challenging business environment, blaming the lack of bank credit which has hurt their capacity to grow and sometimes sustain operations. The firms have cut thousands of jobs as a result, further hitting the economy by reducing consumer spending. In contrast, the headline growth of the economy has gone up compared to last year. Of concern is the rise in bad loans, an indicator of an economy struggling to generate income. Government revenue has also continued to underperform in spite of the official numbers showing that the economy is growing.

Source: Daily Nation December 24, 2018 06:00 UTC