NAIROBI, Aug. 1 (Xinhua) -- Major investors in strategic sectors of the Kenyan economy have prepared adequately for election related risks despite the broad consensus the exercise will be largely peaceful, an official from a trade lobby said on Tuesday.
Kiprono Kittony, the Chairman of Kenya National Chamber of Commerce and Industry said in a commentary published by the Daily Nation that the private sector is optimistic the Aug. 8 polls will be peaceful but is prepared to handle negative outcomes that may disrupt businesses.
"There is well-founded optimism among the business community that the elections will be peaceful. However, there are still some critical gaps that pose risks to business which should be addressed urgently," Kittony said.
Kenya is gearing up for national polls next week as 19.5 million registered voters elect a new President, lawmakers, county and ward representatives.
So far, foreign election observer missions are already in the East African nation to assess its preparedness to undertake credible, fair and peaceful general elections.
The Independent Electoral and Boundaries Commission (IEBC) has assured the Kenyan public and foreign allies it had set up solid mechanisms in place to ensure the elections are free from disruptions.
Kittony clarified the business community has faith in the ability of IEBC to conduct peaceful polls but warned that contentious issues like opaque campaign finance and huge youth unemployment could jeopardize Kenya's stability this election cycle.
"We must in the future make campaign contribution more transparent and enforce spending caps. High youth unemployment that heightens election risks should be given due attention," said Kittony.
He added that reform in Kenya's independent institutions and issues driven political discourse is key to avert balkanization along sectarian and ethnic lines as the country head to the polls.
Kenyan economy has made slight improvement despite high octane rhetoric linked to the ongoing campaigns as well as drought and turbulence in the global financial markets.
According to Kittony, key sectors of the economy like tourism, manufacturing, transport and financial services have been on a recovery path in the last quarter.
He noted that Kenya's peace and stability during this election cycle will benefit neighboring countries that depend on Mombasa port to transport bulk cargo.
"Peace in the elections is as important to Kenya as it is to the region and that is why the business community is closely monitoring risks ahead of the polls," said Kittony, adding that the private sector has been spearheading a national campaign to promote peace prior to the general election.
