On September 30, 2014, Kenya achieved lower middle-income status effectively joining the ranks of middle-income countries, sixteen years ahead of its Vision 2030 goals.
Kenya is the ninth largest African country with a GDP of $55.2 billion. A World Bank Group analysis attributes Kenya’s growth to aggregate demand fueled by strong consumption and investment.
According to the World Bank’s Enterprise Surveys 2013 data, the top three business environment constraints experienced by private sector firms in Kenya are practices of the informal sector, corruption, and electricity.
According to Heritage Foundation’s 2015 Index of Economic Freedom Kenya’s economic score is down 1.5 points from last year to 55.6 making its economy the 122 freest (out of 186) in the 2015 index. There was an improvement in freedom from corruption outweighed by declines in five of the 10 economic freedoms, including trade freedom, business freedom and the control of government spending. Kenya is ranked 23rd out of 46 countries in sub-Saharan Africa.
United Nations Conference on Trade and Development STATS.
Kenya County Profiles
Related Blogs and Resources
Published on June 14, 2017
Kenya Airways has moved a step closer to operating direct flights to the United States after the Department of Transportation (DOT) granted it the first set of licences.
The national carrier has received “exemption authority” from the DOT, allowing it to commence flights to the US provided it secures clearance from the Federal Aviation Administration (FAA) and other applicable State agencies.
The DOT has also tentatively granted Kenya Airways a Foreign Air Carrier Permit (FACP), which is again subject to clearance from several US security, aviation and border agencies. Read more. Source | Business Daily
Published on June 12, 2017
East African Community (EAC) member states have prioritised development expenditure as countries look to further strengthen the growth agenda of the regional economies.
In the national budget estimates presented yesterday, Tanzania will be spending $14.21 billion and Uganda $8.09 billion in the fiscal year 2016/17. Rwanda plans to spend some Rwf2.09 trillion compared to the Rwf1.95 trillion spent this fiscal year.
Kenya’s budget for the 2017/2018 fiscal year was presented in March to give room for the forthcoming general elections in August. The EAC states presented their 2017/18 budgets under the theme, ‘Industrialisation for job-creation and shared prosperity’. Read more. Source | New Times
Published on June 08, 2017
Opposition leader Raila Odinga has demanded that President Uhuru Kenyatta sacks three top government officials over the current food shortage. Raila said the officials should be relieved of their duties for misleading Kenyans about the food situation in the country.
He called for the sacking of CSs Mwangi Kiunjuri (Devolution), his Agriculture counterpart Willy Bett and Agriculture PS Richard Lesiyampe. The NASA presidential flag bearer said the unga crisis in the country is man-made.
"The hunger is spreading yet supermarkets are running dry of not just the subsidised unga but all sorts of maize flour. This is clearly manufactured." Read more. Source | The Star
Published on May 22, 2017
A researcher has developed a bio-pesticide that can help the country reduce post-harvest losses of maize and other grains.Donatus Njoroge, an industrial chemist working at Mt Kenya University has developed Molepse bio-resource oil/powder that has been proven to have the ability to protect all types of grains from weevil attacks.
The pesticide, available in liquid and powder forms, was last week selected among top innovations developed by participants during the inaugural East Africa Post-Harvest Technologies Competition.
The competition was organised by the Inter Region Economic Network (IREN), through a grant from the United States Agency for International Development (USAID) East Africa Trade and Investment Hub in partnership with Sygenta. Read more. Source | Daily Nation
Published on May 03, 2017
Foreign Affairs Cabinet Secretary Amina Mohamed has urged the US to help Kenya improve its economic and security situation, arguing that it will be in the interest of both nations.
In a series of meetings with top US officials last week, Ms Mohamed said that President Donald Trump’s ‘America-first’ policy can still be achieved with increased trade between Washington and Nairobi.
"Kenya values the longstanding partnership and cooperation with United States and is keen to explore new avenues and possibilities of strengthening the relationship as the new ‘America first policy’ takes shape and crystallizes," she said in Washington. Read more. Source | Daily Nation
Published on May 02, 2017
The ailing textile sector has been handed a lifeline, with the proposed increase in the amount of goods that manufacturers based in the special economic zones can sell locally.
President Uhuru Kenyatta said that the apparel manufacturers operating from the export processing zones (EPZs) will now be allowed to sell up to 40 per cent of their goods locally, a significant improvement over their current local market quota.
“We want to increase the current quota of 20 per cent that is allowed for the local market up to 40 per cent so that the local apparel manufacturers can employ more Kenyans,” Mr Kenyatta said. Read more. Source | Business Daily
Published on April 25, 2017
The initiatives being pursued have therefore boosted farmers’ morale to increase production and quality in order to earn premium prices in the global market. The industry for the last four production years has witnessed increased production, area under coffee and high prices as well.
According to the Economic Survey 2017 launched recently, the price of a kilogram for unroasted coffee for the last four years at the international market has increased by almost 30 percent to reach 4.7 U.S. dollars in 2016 compared to 3.3 dollars earned in 2013 production year. Total coffee earnings increased to 213 million dollars in 2016 from 205 million dollars in 2015 registering a 3.9 percent increase.
Currently a team of Kenyan coffee value chain players under the leadership of agriculture cabinet secretary Willy Bett are in Seattle, United States for an exhibition where Kenya is the portrait country. This is expected to enhance the exposure of Kenyan coffee. Read more. Source | Coast Week
Published on April 19, 2017
Nairobi has been named as one of the leading regional destinations for companies establishing international headquarters.
Kenya’s capital appears on the Fortune 500 list alongside Dubai, Johannesburg, Casablanca, Lagos and Cairo, as one of the destinations with the highest appeal.
According to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East, Nairobi is the leading destination for Fast Moving Consumer Goods (FMCG) companies. Read more. Source | Daily Nation