First, I wish all sovereign people of Kenya a healthy, safe, humane, and dignified New Year 2026. The Year 2025 was one of the most difficult for most Kenyans. The economic and financial life has been very traumatizing, painful, and full of tears. More than 87% of Kenyans could not meet their basic needs and financial obligations.
Key social sectors, especially education and health, were in tatters. Our democracy faced consistent assault and regression. Kenya remains a very unequal and partially free country.
It has been proven beyond a reasonable doubt that President William Ruto is the biggest existential threat to our Constitution, democracy, and economy. He ferociously abhors dissent and criticism and is independent in thought. He runs a one-man show.
The Hustler economy narrative by President Ruto is irrevocably dead. It was a big political lie. Hustlers have been left betrayed, abandoned, and crushed. President Ruto has reverted to the old dubious politics of unhinged, endless promises.
Kenya has unique people
Kenya has very hardworking, industrious, and entrepreneurial people. They don’t give up easily. They turn turbulence into resilience. Theirs is not just hope and faith. It is faith in action. This is what makes the country remain resilient.
The country faces enormous challenges, including fiscal pressure, economic strain, inequality, poor governance, and limited job opportunities.
Also Read: Why 26 Million Kenyans Won’t Stop Borrowing from Hustler Fund
Whereas the macroeconomic indicators show stability, the economic reality on the ground is entirely different. The microeconomics is dead with recession and stagflation.
Families and businesses are economically devastated. Their incomes, jobs, and livelihoods have not only been constrained but also destroyed.
The country is in high debt distress, with more than 70% of revenue going to unscrupulous debt service. Fiscal deficit remains high. Private sector investments have declined. The industry has lost momentum, and many businesses are closing. Crucial agricultural, construction, and services are slowing with a risk of further deceleration. Consequently, the Hustle Bottom-up economic model has become a political hoax that has caused pain and misery.
Kenya is a country of growth without a broad shared economic transformation. Many Kenyans want a change in direction to a more inclusive and responsive economic growth model.
The current growth model, largely state-led, debt-financed, and underpowered in the private sector, must end.
This is a moment for fundamental economic liberation. It is time for bold economic rights for all Kenyans in line with the conditions of the 21st century. This is about realizing that political freedoms are only half-full without economic liberties. A bold Economic Bill of Rights will initiate a Kenya economic revolution. It is a vision of foresight for a new social compact.
People’s Economy First
A different economy is possible for Kenya. It is, People’s Economy First! It is a new economic and fiscal compact model driven by strengths in debt-free, human capital, institutions, innovation, and entrepreneurial energy.
It is an economy driven by investment in people, productivity, and enterprise. People have real opportunities to earn, save, and prosper with a credible government enjoying legitimacy and trust. You can’t grow an economy by taxing the poor. Tax is a consequence of value creation, not extraction.
Kenya has no choice but to face the scalpel for transformation to take place. There is a progressive constitutional order, but a rotten political system. This is a pivotal generational, demographic, and political change for human and economic freedoms beyond survival mode.
The country must have a new economic model based on high productivity, healthy, skilled human resources, competitiveness, and innovation. The government must adopt smarter spending and capital allocation with the complete elimination of inefficiencies. Revenue must be mobilized fairly, with lower taxes and minimal regulatory burdens.
Also Read: IMF Hints at New Loan for Kenya as Nairobi Staff Visit Ends
The private sector needs strong empowerment by cutting off local market borrowing, removing unnecessary regulations, and reducing credit costs. Skilled human capital will be key. Make education and training more accessible and of a higher quality.
Kenya must become a connector country, leveraging its strategic location, people, and the emerging new competitive multipolar world order. It will be a new era of economic dignity and infinite economic possibilities.
Finally, energy costs must come down drastically by tackling the structural problems of cartel pricing and capacity constraints. Investment in the green economy and energy will be pivotal in the new economic model.
Making the governance system clean with a stricter rule of law is the bedrock of the new economy. The country needs political leadership with foresight, steel, and unchained. Kenya’s future is bright.
This article was written by Ndung’u Wainaina, a Human Rights Advocate. The views expressed in this opinion piece are the author’s own and do not represent The Kenya Times’ editorial position.
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