Economic Updates on Covid 19

The Economic Planning Board for Kenya shared an economic update specifically around the economic impacts of COVID-19. This detailed update is available on the AKJI portal .Specifically, businesses should consider the following:

  • Reduce reliance on a single market or channel for sourcing products and seek alternate supply solutions;
  • Review expectations of revenue generation for 2020, especially on the key lines of business impacted;
  • Ensure availability and access to capital to withstand shocks and meet financial obligations. Many countries around the world have seen a total shutdown of their economic activity for an indefinite period and we need to be prepared for such an eventuality;
  • Maintain a savings cushion that is readily available if required. Liquidity in the financial system can become sparse in times of stress; savings should only be deposited with sound financial institutions that benefit from a strong credit rating and a low cost of funding;
  • Avoid excessive leverage and minimize currency mismatch (for instance borrowing in US Dollars when revenues are in Kenya Shillings);
  • Scale back or defer aggressive expansions plans or speculative ventures;
  • Minimize unnecessary expenses and maintain low overheads;
  • In line with the Government Directive and when possible encourage remote working for nonessential staff and provide working conditions that minimize transmission risk;

Minimize unnecessary spending and continue to be prudent with personal finances. Also in line with the Government Directive to reduce the risk of transmission, we highly encourage the public to conduct cashless transactions using mobile money and debit or credit cards.

General Questions Covid
Size: 150kb
Guide on Business Continuity Management System
Size: 150kb
President Uhuru Statement on Covid 19
Size: 150kb
Questions on Protection
Size: 150kb
Travel Measures on Covid 19
Size: 150kb
Postponement on KNCCI Events
Size: 150kb
COVID-19 Civic Education
Size: 150kb