In Kenya, elections are held every five years on the second Tuesday of August. During this time, political parties present various promises and economic proposals to the electorate, sparking debates on the most suitable economic model for our nation. Factors such as regional status, GDP per capita income, internal and external debt, the growth of the middle class, poverty rates, and income inequality are key considerations in these discussions.
According to World Bank data, there has been a decrease in the proportion of the population living below the national poverty line from 46.8 percent in 2005/06 to 36.1 percent in 2015/16. While progress has been observed in rural areas, urban poverty rates remain stagnant, particularly in regions such as Wajir, Mandera, and Isiolo. The disparity in well-being between urban and rural areas, especially in northeastern counties, is concerning.
In examining economic models, it is evident that Kenyan leaders often draw inspiration from Western economic theories. However, unlike Western political campaigns where candidates meticulously detail their economic plans, Kenyan politicians tend to make promises without providing concrete explanations or feasibility studies.
For instance, the "Bottom-Up Middle-Out" economic model, popularized during President Biden's campaign in the United States, has been adopted and adapted by Kenyan politicians. Despite claims of its success in the US, there is skepticism surrounding its applicability in Kenya. The model, which focuses on empowering grassroots communities, is often misrepresented as merely offering handouts and grants to the poor.
In reality, a genuine "Bottom-Up" economic approach entails creating an enabling environment for grassroots entrepreneurship and innovation. Technical skills development, devolution of resources, and market access for local products are integral components of this model.
To address the challenges facing Kenya's economy, we must prioritize education reform to foster practical skills development, embrace devolution to empower local economies, and establish robust marketing channels for locally produced goods. These efforts will not only alleviate poverty but also stimulate economic growth and job creation.
I look forward to continuing this discussion and exploring actionable solutions to enhance Kenya's economic prosperity.
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