Kenya High Commission
 in Botswana

About Kenya

Economy

Kenya’s economy is market based and maintains a liberalised external trade system. The country is Eastern and central Africa's hub for Financial, Communication and Transportation services. Major economic activities are: agriculture, forestry and fishing, mining and minerals, industrial manufacturing, energy, tourism and financial services. Kenya has a GDP of $78.4 billion (2016 estimates) making it the 72nd largest economy in the world, with Per capita GDP estimated at $1,143.10.

The country is investment friendly and has enacted several regulatory reforms to simplify both foreign and local investment, including the creation of export processing zones. An increasingly significant portion of Kenya's foreign inflows are remittances by the Diaspora who work in the US, Middle East, Europe, Asia and other parts of Africa. Compared to its neighbours, Kenya has a well-developed social and physical infrastructure.

Agriculture continues to be the mainstay of the Economy contributing one-third of the GDP and another 27% indirectly through linkages with other sectors. The sector accounts for 65% of the export earnings with over 75% of agricultural output from small-scale, rain fed farming and livestock production. Kenya’s agricultural exports include tea, coffee, fresh cut flowers and fruits, and industrial crops such as cotton, sisal and nuts among others. Other leading sectors include Tourism & Sport Tourism, Information, Communication and Technology, Energy, Education, Wholesale, Air Transport, Building and Construction and Manufacturing.

In 2008 the Government of Kenya in collaboration with the private sector, civil society, development partners and other stakeholders launched Vision 2030, which is our development blueprint covering the period 2008 to 2030. Kenya continues to implement Vision 2030 whose overarching goal is to transform the country into a globally competitive and a prosperous nation with a high quality of life for its citizens by 2030 through five year Medium Term Plans. This goal entails three dimensions: global competitiveness, national prosperity and a high quality of life. The Vision is constructed on three main pillars- the social, economic and political. The country is in the process of implementing the Second Medium Term Plan (MTP II) of Vision 2030 which will ensure continued high levels of Public private Partnerships (PPP) and Direct Investment. The implementation of the 9-point Jubilee Government Action plan is part of this medium term plan.

Under the MTP II, the country expects to raise GDP growth from 4.6% in 2012 to 10% by 2018. The MTP II contains a strategy for a stable macroeconomic environment to facilitate high and equitable growth, low inflation and sustainable poverty reduction.  

Economy
Economy

In order to achieve the goals of MTP II, 129 flagship projects across the three pillars and enablers of the Vision 2030 have been prioritised for implementation.

Under the First and Second Medium term Plans the government has achieved significant success in all sectors of the economy, including reforming the business environment making Kenya the fastest improving business environment in the world.  In three years, Kenya has risen 56 places in the World Bank’s Ease of Doing Business Index, from 136th to 80th. Since 2013, over 1532 major companies from across the globe have set up shop in Kenya. These include VW, Wrigleys, Peugeot, Google, Microsoft, Massmart and Carrefour.

The Government has also built an entirely new world-class railway system; and thousands of kilometres of access roads to connect producers to markets. The Government has also ensured connection of thousands of schools and millions of homes to electricity. It has in the last four years has made investments and reforms that have begun to transform healthcare delivery in Kenya and the  education system including the supply of digital learning devices to primary school children.