Reduce the hustle in Kenya's economy: A plea to the nation's leaders

In a weekly column titled "Hustlenomics," the author takes a closer look at the economic lives of ordinary Kenyans. With eight years of insightful observations, the author sheds light on the unique dynamics of Kenya's economy, particularly its high level of informality.

The author notes that while many ordinary hustles in developed countries have been automated—from self-service fueling of cars to self-service tyre pressure checks—Kenya, on the other hand, is teeming with a multitude of hustles. However, the author questions if this informality is the way forward for Kenya's economic future.

The author argues that formalization is not just about taxes, but also about long-term benefits such as social security, pension, higher standards of living, and even longevity. Formal jobs, which are few and far between in Kenya, are the only ones that can provide a regular salary, pension, and other benefits. This necessitates creativity and innovation.

The author suggests that if Kenya focuses on the innovations and ingenuity in its informal sector, it could easily have its own SAPs, Hyundais, BYDs, and Facebooks and Equities. Innovation and technology, the author notes, reduce hustling jobs and increase high-quality jobs that pay better.

However, the author raises questions about who will spearhead this formalization of the economy. The author also questions the role the government will play in this process. The author encourages readers to stay informed and subscribe to the newsletter to follow this important discussion.

The author also notes a trending topic in Kenya: the Hustler Economy. This term, along with Hustlenomics, SMEs Funding, and the Kenyan Economy, are all hot topics in the country's discourse.

Despite the high level of informality in Kenya, leading to a lot of buying and selling of goods, the author points out that not many goods are made to sell. This is a stark contrast to the developed countries the author has visited, where there are fewer hustles compared to Kenya, but more goods are produced.

In Kenya, high school dropouts are expected to become entrepreneurs, a testament to the resilience and innovation of the Kenyan people. The author advocates for the formalization of the Kenyan economy to capture this creative energy and make it easy to scale up enterprises.

The author also questions the myth of informality as a path to job creation, stating that it has been oversold. The author instead encourages the focus on formalization, citing the long-term benefits it could bring to the Kenyan people.

The author concludes by noting the rise of new SACCOs (Savings and Credit Cooperative Organizations) in Kenya and questions if they could be a model to use in all sectors. The author also warns against defining Kenya's economic future by taking informality online, such as on Facebook.

As the author continues to write his weekly column, we can expect more insightful observations and thought-provoking discussions on the future of Kenya's economy.