Showing posts with label Kenya. Show all posts
Showing posts with label Kenya. Show all posts

Friday, January 26, 2024

Unemployed and Totally Burned out.

Why are unemployed Kenyans feeling the burnout? 


                                                (
Credit: Alamy Stock Photo)

In recent times, Kenya has witnessed a surge in unemployment rates, leaving a growing number of its citizens grappling with the harsh realities of joblessness. What's particularly concerning is the rising phenomenon of burnout among the unemployed population. This article delves into the reasons why unemployed Kenyans are feeling the burnout, exploring the economic, social, and psychological factors that contribute to this distressing trend.

One of the primary contributors to the burnout experienced by unemployed Kenyans is the daunting economic challenges they face. The lack of job opportunities, coupled with the high cost of living, creates a precarious situation for those without a stable income. As they struggle to make ends meet, stress and anxiety mount, leading to burnout.

Also seeThe Evolution of Income: Online Work vs. Traditional Employment in Kenya.
In Kenya, where the informal sector plays a significant role in employment, the pandemic and economic downturn have disproportionately affected small businesses, resulting in widespread job losses. With limited government support and a competitive job market, unemployed individuals find themselves in a constant state of financial uncertainty, intensifying the burnout experience.

                                (Image courtesy of The People Daily)

Beyond economic hardships, unemployed Kenyans face the weight of societal expectations and perceptions. In a culture where one's worth is often tied to their professional success, being unemployed can trigger feelings of shame and inadequacy. The societal stigma surrounding joblessness exacerbates the mental health challenges that individuals already face.

Mental health remains a topic often overlooked in Kenya, with societal attitudes contributing to the stigmatization of seeking professional help. The mental toll of unemployment is profound, leading to increased rates of depression and anxiety. The fear of being judged and the struggle to maintain a positive self-image amid societal pressures amplify the burnout experienced by the unemployed population.

See Ruto's ZAKAYO-Taxation: The Failure of "mama-mboga" and Wheelbarrow Economics.

There is also the issue of uncertain future and diminished self-esteem. The lack of a clear path forward and the uncertainty surrounding future employment prospects contribute significantly to burnout. Many unemployed individuals find themselves stuck in a cycle of job applications, interviews, and rejections, leading to a diminished sense of self-worth and purpose.

The constant uncertainty about when their situation might improve takes a toll on mental well-being. The absence of structured routine and defined goals that employment often provides can leave individuals feeling adrift, further intensifying burnout. As the days turn into weeks and months of unemployment, the emotional toll on self-esteem becomes increasingly burdensome.

                                        (Photo credit: Campusbiz Kenya)
Furthermore, in a rapidly evolving job market, staying relevant to current skills is crucial for employability. However, unemployed Kenyans often face barriers to accessing skill development opportunities. Limited resources, both financial and infrastructural, hinder their ability to acquire new skills and stay competitive in the job market.

This lack of access to training programs and educational resources compounds the challenges of job seekers. It not only limits their chances of finding employment but also contributes to a sense of stagnation and hopelessness, intensifying burnout. Bridging the gap between skill development initiatives and the unemployed population could be a crucial step in addressing this aspect of burnout.

Last but not least, while individual efforts are undoubtedly important, systemic changes and support structures play a vital role in alleviating the burnout experienced by unemployed Kenyans. Government initiatives to boost employment, provide financial assistance, and invest in education and skill development can have a significant impact. Additionally, community support and destigmatization of unemployment are essential for creating an environment where individuals feel comfortable seeking help. Establishing counseling services and mental health awareness programs can address the psychological toll of unemployment, offering much-needed support during challenging times.

In conclusion, the burnout experienced by unemployed Kenyans is a multifaceted issue rooted in economic struggles, societal pressures, mental health challenges, and a lack of access to essential resources. Recognizing and addressing these factors is crucial for mitigating the adverse effects of unemployment on individuals and the broader society.

Moving forward, a comprehensive approach that combines governmental support, community initiatives, and individual resilience is necessary to break the cycle of burnout. By fostering an environment that values individuals irrespective of their employment status and by providing the necessary resources for skill development and mental health support, Kenya can pave the way for a more resilient and empowered workforce.





Wednesday, January 24, 2024

 Navigating Headwinds: Kenya's Best-Performing Industries Amidst Taxation Challenges.


                                     (Image courtesy of urbankenyans.com)
Kenya, a vital economic player in East Africa, is facing a delicate balancing act as it strives for sustained growth while grappling with the impact of high taxation imposed by the government. In this in-depth analysis, we will explore the best-performing industries in Kenya, taking into consideration the challenges posed by increased taxation and how it might shape the future landscape.

Agriculture's Resilience: Sustaining Growth Amid Tax Hurdles
Despite the introduction of high taxation, Kenya's agricultural sector remains resilient. In the face of fiscal challenges, the sector, which contributes significantly to the country's GDP, has continued to thrive.statista The 'Big Four Agenda' aimed at achieving food security has driven investments in Livestock, Fisheries, and Irrigation for Crops. However, increased taxes may pose a threat to the affordability of farming inputs and impact the livelihoods of small-scale farmers. Construction and Real Estate: Adapting to Tax Dynamics
The construction and real estate industry, a key driver of Kenya's economic growth, faces challenges stemming from high taxation. The sector, which experienced a growth rate of 7.4% in 2017, now navigates the complexities introduced by increased taxes. Government initiatives for affordable housing align with the industry's objectives, but the added financial burden may slow down projects and potentially affect housing affordability. Tech Sector's Innovation vs. Tax Constraints
Kenya's technology sector, heralded for its innovation, encounters new hurdles with heightened taxation. The industry's rapid growth in mobile technology, fintech, and artificial intelligence is now under scrutiny as increased taxes may impact consumer spending and stifle innovation. Striking a balance between tax compliance and fostering a conducive environment for technological advancements is crucial to the sector's continued success.
Casino Industry Faces Taxing Times
In the world of multimillion-dollar casinos, the introduction of higher taxes poses a significant challenge. The casino industry, thriving on technological integration, must navigate the delicate balance between maintaining profitability and complying with increased taxation. Online casinos, once a source of exponential growth, may face regulatory challenges that could impact their contribution to the overall economic landscape. Transportation Under Tax Pressures
Kenya's transportation industry, a vital hub for Eastern and Central Africa, faces increased taxation challenges. The sector's role in facilitating trade and commerce is crucial, but higher taxes may lead to elevated operational costs. Striking a balance between maintaining efficient transportation systems and meeting tax obligations will be essential to sustain growth in this critical industry.

Investor Sentiments in the Face of Taxation
The Nairobi Securities Exchange (NSE) reflects the broader impact of increased taxation on investor sentiments. Large-cap stocks, particularly those with exposure to foreign investors, may continue to face challenges. The resilience of small-cap stocks, however, presents an interesting dynamic, with retail investors seeking opportunities that offer potential returns despite the tax-induced uncertainties.
Navigating Challenges for Future Prosperity
As Kenya's best-performing industries grapple with the implications of higher taxation, the path to future prosperity has become a nuanced journey. The resilience of agriculture, adaptability of construction and real estate, innovation in the tech sector, regulatory adjustments in the casino industry, and the balancing act in transportation underscore the need for strategic measures. The government's role in fostering an environment that encourages growth while addressing fiscal needs will be pivotal. As challenges loom, the dynamism of Kenya's economic landscape suggests a potential for adaptation, innovation, and a sustainable path forward despite the taxing times.

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