The world economy is in the process of severe contraction: Germany is back in recession, the UK inflation rate is twice the Bank of England target rate and the Fed is busy bailing out the banking industry and now the Automotive industry amid a falling stock market and increased unemployment. Redundancies and home repossesions are the daily buzz words in both the UK and US (not to mention suicides and stress related murders!) On the other hand, Kenya's inflation level is at 27%, growth is projected to be 4% down from 7% last year, interest rates are still in the double digits: who would you say is feeling the pinch the most? no its not a trick question!

 Speaking from the perspective of a Londoner who entered both the property market and the Banking industry during the time of 'irrational exuberance', I would be tempted to imagine that I would be better off sitting at home eating my mother's chapatis, rather than nervously watching the UK house price indices fall daily or waiting patiently for my P45. In truth, it is Kenyans  that will suffer more, even if the fundamentals of the Kenyan economy seem to be better than those of the UK or US.  Although the price of oil is now 50% lower than it was in the summer, our families at home will still continue to feel the effects of higher prices as well as reduced spending by tourists as long haul holidays will be significantly curtailed due to the global recession. Farm outputs will also fetch lower prices in the world markets, severely impacting our agricultural exports. Thinking about how to help out bank home?? cash remittances is  a thing of the past: its expensive and prone to missuse- goods and services remittance is the innovative, smart way to help out the folks back home. Pls take 3 mins to complete survey on an innovative platform being developed by a Kenyan for Kenyans and let us know what you think about this.

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Link to 3 min survey
written by mwas103, 26, Nov 2008

here's the link to the survey - it takes less than 3 minutes to complete

http://survey.networking4profe...&newtest=Y

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