Manufacturers in Kenya are set to be adversely affected by elections. [Photo/]

Do you have a lead on a newsworthy story? Share news tips with us here at Hivisasa!

Manufacturers are set to experience negative revenue growth due to the unfavourable political climate in the country.

Kenya Association of Manufacturers Chief Executive, Phyllis Wakiaga, stated this during the release of a market  survey that there

The survey, conducted by the  Kenya Association of Manufacturers is titled, ‘Third quarter manufacturing barometer’,  showed a gloomy outlook over the rest of the year.

The survey reported that in the last three months,22 percent of industrial manufacturers reported between one percent to nine percent revenue growth,11 percent of reported a revenue growth of over 10 percent.

Zero or negative revenue growth is being forecasted by industrial manufacturers in the next six months due to the prolonged electioneering. This as only two percent of the firms surveyed expecting a positive revenue growth.

The survey listed a few barriers to growth that affected the industrial manufacturers. They include competition from cheap imports (63%), lack of demand (59%), legislative pressures(58%) and pressure from increased wages.

As a result of the sluggish, 47 percent of the firms will lay off staff, 22 percent will hire new staff while 31 percent intend to maintain their current number.

Based on the performance of the industrial manufacturers,39 percent are less optimistic of a turnaround in the coming months while an equal number of 14 percent are both optimistic and pessimistic about growth in their revenue.