EDITORIAL: 2014 was the year of defining events, let’s make 2015 better

Opinion and Analysis

 

St. Paul‘s Chapel Community Choir Nairobi at a past performance. PHOTO | BILL ODIDI 

 

By Business Daily

Whichever way one looks at it, 2014 has been an eventful year. This is year that millions of Kenyans hoped would be significantly different from the previous one that was marked with intense political activity that preceded the March 4 elections.

2014 also began only three months after Somalia’s Al Shabaab militants carried out a deadly attack on Westgate Mall killing 67 people.

On the social front, this was the year in which kids joining Class One should have started school on a digital footing thanks to the government’s plan to offer them free laptops -- complete with digital books and learning aid.

Unfortunately, the dream died at the alter of massive corruption in the procurement system that saw the court nullify the award of the contract to supply the computers to an Indian firm.

It was also the year that Kenyans expected to start enjoying the fruits of devolved government, especially in the health sector where counties took full charge of primary health services.

There were high hopes that the hospitality sector that had suffered a massive beating from the wave of insecurity would find its way out of the woods to enable Kenya earn the much needed tourism dollars and to save thousands of jobs.

Well the reality so far is that terrorism related insecurity remains a major problem that took the lives of more than 200 people this year alone.

On the monetary front, the shilling performed faily well, holding ground against most hard currency till the very last quarter of the year when it ceded ground as earnings from key agricultural exports such as tea and coffee fluctuated leaving it with little dollar cover.

Kenya also made big strides in the arena of economic management in 2014 with the successful floating of the first ever Eurobond that was priced at an attractive average five per cent rate and oversubscribed by more than 500 per cent.

Money from international markets has given the State quick access to relatively cheap funds to finance mega infrastructure projects that are needed to set the economy on a long term growth path.

There was also a defining moment in September when fresh computation of economic data or rebasing saw Kenya acquire a new middle income economy status to become Africa’s ninth largest economy.

It can only be fair to say that given the many storms it has weathered, our is a promising economy that could perform better and improve the social status of all citizens. That could happen in 2015.