Tough Times as 232 Kenyan Companies Shut Down in 2021

In July 2021 alone, some 232 companies have been featured in the Gazette Notice as having dissolved operations or intending to dissolve. 153 of the 232 companies, were featured in a single Gazette Notice issue signaling that the economy was still headed for a slump period.

In one of the March issues of Nation, auction notices property auction notices filled nine pages and each issues carries at least five pages of auction ever since. This comes despite World Bank’s estimation that Kenyan economy is poised to expand by 4 per cent in 2021.

Elsewhere.

Covid-19’s Toll on U.S. Business? 200,000 Extra Closures in Pandemic’s First Year

The economic toll from the Covid-19 pandemic has been tough to measure, but new estimates from the Federal Reserve suggest it wasn’t as bad as feared for smaller businesses.

The pandemic resulted in the permanent closure of roughly 200,000 U.S. establishments above historical levels during the first year of the viral outbreak, according to a study released Thursday by economists at the Fed. In recent years, about 600,000 establishments have permanently closed per year, or about 8.5%, according to the study.

https://www.google.com/amp/s/www.wsj.com/amp/articles/covid-19s-toll-on-u-s-business-200-000-extra-closures-in-pandemics-first-year-11618580619

Na bado

shida is that the kenyan government has criminalized almost all businesses. Jaribu kufungua even a simple water vending baze. County council thugs will flock there demanding for bribes

@Azor Ahai said that kenya kuna business opportunities the only problem is lack of capital. lol:D

It’s a downward spiral

I am not denying that covid has affected the economy but the data will be meaningful if;
a comparison of year on year, the number of companies registered in the same period, what’s the percentage of the shuttered companies in the total number of existing companies?

If you supplement the data with that from the “Kumekauka” KTalk post utaona sio mchezo.

Right now is the Worst time to start a business in Kenya. One of mine went down last year and I was forced to rent out the premises to a real estate mogul who wanted kuekea Rich Kid wake Biz…

Rich people still have the money and are growing richer. Ordinary people income yao inazidi kudidimia…

An associate told me of a naíve lady friend of his who had a mzungu sponsor open a Wines and Spirits joint for her. Barely 2 weeks had passed and she sold stock on clearance. Seems like the mzungu left the country and her getting the money she wanted liquidated the base and went back home.

A typical shenzi type

Wine and spirits!!! If she had all the papers then she’s the dumbest kid in the country. Pombe is a real money maker, the margins are beautiful and there’s always a drunk looking to score