John Gitonga, a second-hand clothes retailer at Nairobi’s Gikomba open-air market, says the virus has bitten off a chunk of his business.
“In-building the element of risk preparedness into businesses strategies will be a must going forward for companies,” Mr Kariuki says, noting most businesses have never before experienced the magnitude of the disruption they are currently going through thanks to the pandemic.
Mr Kariuki says companies will also look to diversify their business as a way of spreading their risks wide.
Ken Gichinga, chief economist at Mentoria Economics, a business consulting firm, says one key lesson for firms is to rely on local supply chains as they are more sustainable and agile in adapting new situations in the long run.
“Global supply chains are more sophisticated and are prone to numerous disruptions which can impact on the ability of a business to deliver,” Mr Gichinga says.
