Locust plague could scare investors away – CBK Governor

Locust plague could scare investors away – CBK Governor

January 29, 2020 0 By mykenyancareers
swarm ETH Apr2014s 1 - Locust plague could scare investors away – CBK Governor
Njoroge said the plague will affect food production in the country and interfere with the performance of other sectors/FILE

NAIROBI, Kenya, Jan 29 – The steps the government is taking towards dealing with the invasion of desert locusts will determine whether investors will continue expanding their opportunities in the country.

Central Bank of Kenya Governor Patrick Njoroge says investors will be driven away if the country acts confused on what needs to be done.

“This will affect food production in the country, and something should be done immediately to drive away the locusts, also, investors will only shy away if it appears, we do not know what we are doing,” said Njoroge.

Njoroge said the plague will affect food production in the country and interfere with the performance of other sectors.

“This is a climate change issue and it is going to affect food production in the country and ever other sector,” he added.

His sentiments match those of Treasury Cabinet Secretary Ukur Yatani who says the invasion could have a negative impact on agricultural output, leading to higher inflation that could slow down economic growth.

On Monday, Agriculture Cabinet Secretary Peter Munya said it will take at least six months to control locusts which poses as a risk to food security.

Munya said the situation had been worsened by the lapses in handling the locust threat when they were first spotted in northern Kenya.

Desert locusts were first reported in late 2019, and have so far invaded 10 counties in Kenya, among them Isiolo, Samburu, Wajir, Garissa, Tana River and Marsabit among others.