The Power Africa initiative has helped nearly one million Kenyans access electricity through new mini grid installations and solar home systems. Overview: Economic Growth. Skip to main content.
Agency for International Development. Search Fusion Enter the terms you wish to search for. Speeches Shim. Access to Finance and Investment Many Kenyan firms, particularly small and medium enterprises, do not have access to finance to grow their businesses. Energy Sector The Government of Kenya has a vision to increase the supply of and access to reliable, affordable, and sustainable electricity, with a target of universal access by Share This Page.
Act Learn how you can get involved and lend a hand. Partner Find business and funding opportunities. Kenya has experienced continued growth in GDP over the last few years, supported by ongoing public infrastructure projects, strong public and private sector investment and appropriate economic and fiscal policies, reflecting the broad-based and diversified nature of the Kenyan economy. Banking sector is well capitalized, profitable with capital adequacy and liquidity ratios above the recommended thresholds.
Macroeconomic stability has been preserved over the last few years with inflation, interest rates and exchange rates remaining largely stable, thanks to the prudent monetary and fiscal policies. The first MTP covered the period from to A number of projects aimed at national healing and reconciliation following the post-election violence were implemented.
Repair of damaged infrastructure, assistance to affected small scale businesses and resettlement of internally displaced persons were all undertaken in order to raise GDP growth which fell to 1. This jump in ranking came following similar improvements in and The government has initiated a broad range of business reforms including the areas of starting a business, obtaining access to electricity, registering property, protecting minority investors and streamlining insolvency rules.
Kenya is also experiencing a strong flow of FDI, with the majority of foreign investment going into renewable energy projects. Although Kenya is the most industrially developed country in East Africa, manufacturing accounts for only 8. Key exports such as tea, coffee and floriculture require little or no processing. The construction and real estate sector is one of the fastest growing sectors in Kenya, growing at 7.
The growth is generally attributed to government investment in public infrastructure development projects as well as the real estate sector road, rail, energy, port and airport modernization. The technology sector is also one of the fastest growing business sectors in Kenya, and internet access rates are some of the highest in sub-Saharan Africa.
The rise of 4G and 4G LTE services and the growth in smartphone usage is influencing growth in e-commerce and other e-based services and innovation. The tourism sector in Kenya is one of the most diverse in East Africa with increased investments in conference, eco and leisure tourism. Tourist arrivals increased 8.
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