Kenya Grounding Africa’s Economic Growth

Located in East Africa and sharing its borders with countries including Ethiopia, South Sudan, Tanzania and Uganda, Kenya has often been referred to as the commercial “gateway” to and regional hub of East Africa. This comes as a result of the strategic importance the coastal city of Mombasa plays, which is one of the busiest ports along the East African coastline.

Apart from being the largest and most advanced economy in East Africa, Kenya is also set to be among the fastest-growing countries in Africa, expected to continue to grow in excess of 5% per annum over the next five years. Nairobi, the country’s capital city, is the business and financial centre of Kenya and the government is on a quest to establish it as a financial hub in the region, putting it on par with existing financial centres in the world.

Various sector growth drivers and a non-reliance on commodity exports have underpinned the continued notable economic performance of the country. Yet, Kenya will increasingly depend on innovation, on creating the broader enabling environment for business to thrive through infrastructure construction and reforms, and on reducing corruption to generate value, create employment opportunities, and serve a rapidly urbanising and rising middle class.

Given Kenya’s diversifying and robust growth prospects, strong private-sector participation, ongoing pro-business reforms, as well as a rising domestic and regional consumer market, Kenya offers a wealth of investment opportunities across various priority sectors including infrastructure development, horticulture, manufacturing, tourism, power generation, natural resource extraction, and information and communications technology (ICT).

Read More: Kenya Report- Formatted – final version – 7 October 2016 update (pdf)

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