NAIROBI, Kenya, Aug 23 – Equity Group Managing Director (MD) and Chief Executive Officer (CEO) James Mwangi has said the electioneering period should not affect the economy of the country..
Speaking during investors’ briefing on the release of the half-year financial results, Mwangi hoped that elections would just be events and not an entire cycle.
“We should not talk about election cycles in the same frame as economic cycles. Our economic cycles should not be driven by our politics because they would be events. They should be driven by the global micro-economic effects,” he stated.
He encouraged the lawmakers and the judiciary to play their roles effectively to ensure the same is achieved, encouraging the commissions created by the 2020 Constitution to play their roles as well.
“The issue of economics would now be dealt with the institutions. We see the Central Bank and Treasury manage the inflation, they manage the exchange rate, they manage interest rate in the marketplace. Increasingly, we would see the electoral commission, the cohesion commission, the court or the judiciary, the legislator would also manage our politics and our executive very effectively,” added Mwangi.
The Equity Group boss noted that faster and earlier implementation of the 2010 Constitution would have strengthened the muscles of these institutions to execute their mandate well.
“The only regret that I have, I wish we had done the constitutional transformation of the new constitution in the first phase because the institution now would very mature,” he stated.
The group has posted a Sh24.4billion half-year net profit, a 36 per cent jump from Sh17.9 billion posted in the same period last year on account of higher income.
