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Economy starts to feel the heat of coronavirus crisis

Health Cabinet Secretary Mutahi Kagwe speaks at Mbagathi Hospital in Nairobi during the launch of an isolation and treatment centre for COVID-19 on March 6, 2020. PHOTO | JEFF ANGOTE | NATION MEDIA GROUP The impact of the virus that started in China is now being felt thousands of kilometres away.

Tourism and trade among sectors that have already been affected by the virus as few imports are shipped in.

Those that are likely to count losses include the Mara circuit and the Kenya Open golf tournament sponsored by Absa.

Kenya’s economy is likely to take a big hit as the country pulls all stops to lock the Covid-19 out of its borders.

Health Cabinet Secretary Mutahi Kagwe Friday announced a 30-day ban on all international conferences and those that have more than 15 foreign participants as part of efforts to deal with the virus that is devastating economies and cities across the world.

The impact of the virus that started in China is now being felt thousands of kilometres away and is set to be felt in every nation that has a direct relationship with the Asian nation.

“The government has, with immediate effect, banned all meetings, conferences and events of international nature in Kenya,” Health Cabinet Secretary Mutahi Kagwe said yesterday.

“The tourism sector is going to be severely affected,” he said, handing hotels and players in the tourism industry a second blow.

Those that are likely to count losses include the Mara circuit and the Kenya Open golf tournament sponsored by Absa.

Organisers of the golf tournament said they respect the decision of the government and support all efforts that safeguard the country against the possible entry of the Covid-19.

“I have conveyed the Government of Kenya’s decision to the European Tour and they have assured us of their full support and we will be announcing new dates for the championship in due course,” Mr Peter Kanyago, the chairman of the Kenya Open Golf, said in a statement.There are also hundreds of conferences lined up in various hotels in Mombasa, Naivasha, Kisumu and other major towns that are set to be affected.The Kenyan shilling has already caught the fever and has tumbled to trade at a three-month low of 102.9 against the dollar.This is after the Central Bank of Kenya (CBK) started buying dollars to increase its stockpile and boost its foreign currency war chest in preparation for the bad days ahead.Kenya […]

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