Kenya offers a comparatively high rating for ease of doing business, reformation of restrictive trade practices, positive economic prospects, governmental commitment to capital projects and favourable regional and global trade agreements.
An indicator of the potential of the country in the coming decade, and the Government’s confidence in a strong economic future, is the Vision 2030 initiative towards creating an industrial middle-income nation with its emphasis on manufacturing, universal healthcare, affordable housing and food security.
Kenya is also prepared to invest in training up its workforce with the aim of providing a labour pool possessing the technical skills necessary for a nation to be competitive in the current marketplace.
THE USAID work in the country’s vital agriculture sector, especially in the area of developing the awareness of global communities towards more sustainable farming techniques, is an indication of the flexibility of both the workforce and the authorities towards partnerships with bodies from other nations.
Joint ventures in the fields of tourism and transport are also successfully underway, as well as a focus on creating new energy sources away from the traditional use of wood and fossil fuels.
These factors, together with a stronger national business confidence and the ongoing government investments, are establishing a stable economic platform nurturing growth, as demonstrated by the expected GDP rise to 5.8% in 2019.
Kenya’s population is forecast to exceed 87 million by 2040 and would require significant investment to maintain the current standard of living. Infrastructure and Healthcare sectors needing the largest share.
Recent Comments