The Kenya Private Sector Association (KEPSA) has released results from a survey carried out in July showing that most CEOs expect a stable economy after conclusion of the General elections scheduled for next week on Tuesday 9th August.
This is the 3rd CEOs Business Confidence Index Survey by KEPSA. More than 173 business leaders from medium and large businesses participated in the survey fielded between 4th July and 25th July 2022.
Results from the survey were released on Thursday 4th August showed that business confidence among CEOs stands at 61 points overall, which is a historic record high when compared to the previous years during elections. The other two were released in November 2012 and July 2017 with the CEOs Business Confidence Index standing at 53.8 and 44 Index points, respectively.
According to the report, Hospitality and Tourism sector is the most optimistic at 68 index points given that the sector is recovering from the negative impacts of the Covid-19 Pandemic. It is followed by the building and construction and wholesale and retail sectors, both standing at 62 index points.
As per the report, high cost of operation, high taxation and high cost of living were the top mentioned key challenges facing companies.
The Central Bank of Kenya (CBK) Chief Executive Officers’ (CEOs) Survey for the third quarter of 2022, released this week, shows that the impending elections remained a minor concern with most business leaders expecting a return to normal operations soon after conclusion of the elections.