“Only 30 per cent of the CEOs surveyed expect to hire more people in the next six months, 52 per cent said their hiring position would remain unchanged while 18 per cent foresee staff cuts,” Kepsa chief executive Carole Kariuki said. The drop in earnings has had a serious impact on the industry having forced a number of banks to cut their payrolls. The CEOs are also worried of possible outbreak of political instability in the coming General Election. Political instability tops the list of concerns among corporate executives having been identified by more than two thirds or 66 per cent of those surveyed. Interest capping is considered a major impediment to growth by 57 per cent of banks while insecurity is of concern to 52 per cent.

Source: Daily Nation April 25, 2017 19:30 UTC