Our new report Kenya’s Statutory Holidays A $2 Billion Opportunity to Boost GDP reveals that Africa loses over $28 billion in GDP annually due to the economic impact of statutory holidays. In Kenya alone, holiday-related slowdowns cost up to $1.69 billion per year, affecting key industries like finance, manufacturing, and construction.

Key Findings:

Each statutory holiday in Kenya leads to $110M–$150M in lost GDP.

Financial services lose up to 80% of transactions, while manufacturing slows by 70-80% on holidays.

Singapore reduced its holidays from 16 to 11, improving productivity while maintaining cultural traditions.

A Call for Policy Reform

The report recommends staggered holiday observances, expanding digital services, and aligning holidays with weekends to minimize disruptions. By implementing such strategies, African nations can unlock billions in lost GDP while preserving cultural identity.

“Kenya must find a way to preserve its traditions while ensuring economic stability,” says Yannick Lefang, an economist and co-author of the study. “Other countries, such as Singapore, have successfully optimized their holiday structures to reduce productivity losses.”

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