Why bottom-up economics might be the answer.

President Dr. William Ruto traversed across the country drumming support for the top office with his main agenda being the bottom-up economics model of development. If you have managed to do some research as a concerned citizen, you would know what bottom-up economics entails. Theoretically, bottom-up economics is all about investing in local entrepreneurs and small-scale businesses to spur growth and increase production.

Alignment of government policies

The Kenyan government should therefore make plans to approach their investment partners and provide a conducive environment for their entry into the Kenyan market to promote local businesses. This can only be achieved by solving the government bureaucracies that resist entrepreneurial activities to redistribute power especially vested interests that protect private and public monopolies within the country.

Lack of capital?

We are all aware that lack of capital is top of the list of barriers to economic growth in Kenya. Bottom-up economics as earlier stated gives capital to entrepreneurs. Entrepreneurs utilize this capital by creating jobs, improving technology, increasing production and ultimately economic growth and improved governance. Capital given to the government parastatals fortifies centralized authority and enforces vested interests or worse ends up embezzled.

Promotion of trade

The appointed minister for trade should engage companies wishing to enter the Kenyan market to focus on supporting small entrepreneurs to produce bigger economic ripple effects. The companies will achieve their geopolitical ends and promote the sale of their products and services but most importantly, they will help in alleviating poverty in this great republic. The development of trade will give the entrepreneurs a voice to pressure the Kenyan government to enact policies that promote business. This will lead to job creation, promote innovation and give the people bargaining power.

Unmined gold

The Kenyan literacy rate, adult total (% of people ages 15 and above) in Kenya was reported at?81.53 % in 2018 according to the World Bank collection of development indicators, compiled from officially recognized sources. Kenya has a large pool of unemployed youth who have graduated in various areas of study. I will call this the 'unmined gold'.

Meaningful partnerships

Kenya must engage their business partners to support and procure from Kenyan traders. Kenya cannot only be a consuming country for foreign products. Local entrepreneurs should get links to the outside world to get enlightened and get empowered. It comes with great advantages to multinational companies as to the Kenyan economy. Several studies have shown that companies that focus on solving social needs and promoting environmental standards tend to achieve great profit margins in the long run.

What now, Kenya?

The cabinet was unveiled yesterday 27th day of September 2022, we better get to work and make Kenya great! The President should deploy a task force of Economists and policy analysts to support in development and implementation of the bottom-up economic model customized to solve the Kenyan problems.

supported source - Gardiner Morse (from the magazine, August 2003)