Podcasts · The Story of Kenya: Empire, Resistance, and Nation Building — Fexingo History
The 1975 Oil Shock and Kenya's Hidden Crisis
· 9:51 · S5 E245
Episode The 1975 Oil Shock and Kenya's Hidden Crisis
In 1975, a global oil embargo sent shockwaves through the Kenyan economy, exposing deep structural weaknesses beneath Jomo Kenyatta’s vision of national unity. This episode explores how the sudden spike in fuel prices triggered inflation, strained foreign reserves, and forced the government to make difficult choices about industrialization and agriculture. We look at the specific policies enacted by the Ministry of Finance, the impact on everyday Kenyans, and the political maneuvering that shaped Kenya’s response to this external crisis. Through interviews with economists and archival records, we uncover the quiet tensions that emerged as the country struggled to maintain its growth trajectory while facing unprecedented economic pressure from abroad.
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Transcript
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