July 27, 2021

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Employers warn of massive job losses

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Employers are warning of massive job losses and business closures if the current taxation regime is not reviewed. 

According to the Kenya Federation of Employers President Habil Olaka the current tax regime is not commensurate to a conducive business environment required to leapfrog Post Covid Recovery.

Data from the international labor organization indicates that in 2020, 8.8 percent of the total working hours were lost globally, with total employment dropping by 114 million jobs buoyed by the Covid-19 pandemic. 

In Kenya, more than one million jobs have been lost due to the impact of the pandemic. 

To mitigate against further losses of jobs, the Federation of Kenya of Employers is calling for the scaling up of the vaccination program by allowing the private sector to embark on vaccination drive.

The Federation has also bemoaned the new taxation measures introduced by the national treasury, warning of massive job losses and business closures if the current taxation regime is not reviewed.

According to the Federation President Habil Olaka, the current tax regime is not conducive for business growth that is required to leapfrog Post Covid Recovery. 

On the noisy political scene in the country, FKE is calling for political tolerance ahead of the general election in 2022, saying political turmoil would sink the already struggling Kenyan economy.

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