These tax changes and amendments that we have witnessed, looking to be implemented by the government, will have a significant domino effect, which might slow down current projects and reduce the financial viability of new ones for an affordable construction company in Kenya. It may be necessary for builders and contractors to modify their plans and budgets, which could result in delays and higher final costs for customers seeking affordable construction.
Moreover, the increase in material costs may deter private homes and small-scale builders from starting new projects, which would hinder the building industry’s overall growth. Given the erratic demand for building materials, the ripple effect may spread to adjacent sectors like transportation and retail for reliable construction experts in Kenya. Your neighborhood Muhindi hardware attendant may need to take a crash course in economics to explain the price increases in light of the current economic turmoil, making every trip to the hardware store a frustrating and humorous lesson on the subject. The underlying question now is: where do we go from here, and how do you plan on aligning your business with these factors?