What will be the solutions to Kenya problems?
This is a question that I have been thinking about for quite a long time now, as I try to understand my place on this earth.
Is it that there is poor planning or what has made Kenya remain in the developing countries section even after 50 years of independence.
There has been a lot of efforts by various stakeholders such as the government as well as the private and NGOs trying to promote economic development in Kenya.
But the key question that I think we all fail to answer is, what really needs to be done to make Kenya enter into the league of developed countries?
Below I highlight some of the things that we as a country can do in order to promote more economic development in the country.
Focus on our strengths
Let’s face it, Kenya like almost every other African country has a very high agricultural potential. Our land is so fertile and there is very high potential in terms of what we as a country can produce in term of agricultural products.
Of course this is not just the only strength that we have as a country, there a lot of other strengths that we can work on to take this country to greater heights.
Leverage our youth potential
Almost three quarters of the Kenya population is under the age of 30 years. This show the potential that we as a country have in terms of the youth. We can promote youth development in various ways which will in turn lead to economic growth:
- Open talent academies to help the youth grow their talents.
- Reduce the tax rate charge for the youth and youth enterprises to encourage more business formation.
- Establish more foreign relations for youths with other countries to promote technology transfer into the country.
- Offer incentives to the youth formed businesses to promote the entrepreneurial spirit in the country.
- Reducing the lending rates to youth enterprises to encourage more loan borrowings which will in effect enhance economic development.
- Encourage the banks to reduce the security requirements for the youth enterprises to promote more borrowings.
Promote technology development and artificial intelligence
Technology and more so artificial intelligence is the future of the world. In about 10 years to come, almost all the job sector will have part that is handled by artificially intelligent machines.
Other than wait to buy these technologies from foreign companies, the government can develop policies which are meant to encourage the local companies invest more in the artificial intelligence field.
Policies to safeguard the locals and local companies against foreign exploitation
Given that local companies are young and are just trying to get a share of the pie, then we need to have policies which are going to shield them against the already established foreign direct investments to ensure their survival.
Another strategy that the government can also adopt is having the policies which ensure that for the foreign direct investments, there is a requirement to hire local professionals up to a certain percentage of the total work staff.
This will achieve two main things:
- Promote technology transfer to the country
- Promote skills transfer to the country
This is very crucial if we are to see the economic development that we want to see in the country.