Top business leaders have expressed concerns over that the nation’s economic instability and its likely impact on 2015.
According to the annual Business Day Research and Intelligence Unit (BRIU) Business Confidence Survey, top among the concerns of business leaders for the year 2015 are factors including potential instability in the political environment, corruption in governance and the recent collapse in oil price.
The poll which was conducted between December 15, 2014 and January 9, 2015 revealed that poor electricity supply, the regulatory environment for business and unclear tax systems, were also top on their list of concerns.
Responding to the open ended question which asked about changes to be implemented, the business leaders said they would like to see changes including: reduction in fuel pump price, due to the drop in crude oil prices globally; tax reforms that will put an end to double taxation; passage of the Petroleum Industry Bill; lower interest rates from banks; more investment friendly policies.
The data from the survey which highlighted series of challenges identified by the business leaders, however, indicated a slight reduction in the number of business leaders who identified electricity/power as their major cost component.