We’ve often read about how over 3 million Small and Medium Enterprises (SMEs) have closed shop in Kenya since the ascension of the two corrupt men in power in 2013.
President Uhuru Kenyatta and his deputy William Ruto have run the country like no one can run his house.
Plunder, corruption, looting and mismanagement have been the order for nearly 6 years now.
Here below, read the story of a millionaire businessman failing business due to Jubilee regime destruction of the economy.
Hi Nyakundi,
Am 32 years old now.
I have lived in Kenya the whole of my life.
I don’t come from a rich family but I have worked my way up.
I started an import business in Nyamakima Nairobi back in 2008. I was importing goods from China and Dubai.
My business did well; I bought my first car, built a house, supported many upcoming entrepreneurs to make their first million and even educated my siblings from it.
However, when Uhuru and Ruto came to power, things started taking a nosedive in my business; revenue declined drastically.
I used to make about Kshs. 5 million in a bad month and between Kshs 7-10 million in a good month in the years 2009 – 2015 Net Revenue.
Business was good then.
But from 2016 up to now, getting even a million shillings in month is a struggle. Note that am talking about GROSS revenue, not NET Revenue. So, if you deduct rent of all my shops and my office, staff salaries and other expenses, my friend, at the end of the month I usually remain as broke as a church mouse. Maybe the church mouse is richer than me because of offering and tithe in the church.
I am currently contemplating closing all my shops and offices. I have about 250 employees who benefit from me directly in form of monthly salaries, about 730 independent sale agents countrywide and over 1000 families benefiting from my business directly every month.
It’s a pity that am closing down my business. A business I have run for the last 10 years. I can’t afford to run it any longer. Thanks to UHURUTO Government. Business Environment is no longer favourable.
I am a wholesaler, I used to supply most of my retailers on credit and they would comfortably pay within 30 days and I would supply them with more stocks.
Currently most of my retailers have not paid me 10 months down the line. After 2017, businesses collapsed. My retailers are not paying me what they owe me.
They keep on telling me that their customers are not paying too. Most of them have closed shop. The few remaining are struggling even to put bread on the table.
My clients owe me debts of over Kshs. 87 Million. They want to pay me but most can’t manage due to the prevailing business environment. For that result, I can’t manage to raise money to import more stocks.
The last stock I did import from China in last year October, I borrowed money from a Local bank.
When the consignment reached at the port of Mombasa, it was declared counterfeits by Kenya Revenue Authority (KRA). Note that, it had all certification by Kenya Bureau of Standards (KEBS) from their agent in China. The cargo was impounded.
Now the bank has given me 14 days NOTICE to vacate my own house, they wan’t to Auction it for the Reason, I did not pay my loan.
I have a young family; My wife and 2 children…tutaenda wapi (what shall we do?).
Thanks UHURU and your government for putting me down financially. Am a KIKUYU just like you. I used to do well before you came in power, now am on the road to poverty.
Uhuru should be removed from power.
