“Austerity is required” The Outlook #12, By Mr. Hilary Akhaabi, PhD.

The high failure rate of startups, particularly in emerging markets like Kenya, underscores the need for robust due diligence. The lack of reliable credit structures and data in these economies poses a significant challenge. Businesses often rely on informal networks and credit arrangements, making them vulnerable to unforeseen risks. The recent failures of prominent Kenyan startups highlight the importance of stress-testing business models and ensuring adequate capital reserves to withstand economic shocks.

Imperialism, driven by economic motives, is a historical trend. Today’s dominant imperial power, the United States, influences emerging nations like Kenya through financial institutions and policy alignment. Kenya, as a subject, must strategically choose its relationship with the imperial power, focusing on mutual benefit. The article highlights Kenya’s alignment with U.S. ideologies and the influence of the U.S. in local production. It critiques Kenya’s “Big 4” economic agenda as state-driven and inefficient, using food security as an example. The author concludes that initiatives driven by imperial powers should be carefully evaluated for mutual benefit, as imperialism is not going away.