Background

In 1965 Kenya’s Founding fathers adopted Sessional Paper No.10 of 1965 entitled the ‘African Socialism and its Application to Planning in Kenya’. This was the vision document that pictured a nation with an Africanized economy and contributed to the establishment of locally owned industries. The Sessional Paper was later revised into Sessional Paper Number 1 of 1986 and achieved significant milestones. On 10 June 2008, the Kenya Vision 2030 was launched as the country’s National Development Blueprint with the overall goal to create a globally competitive and prosperous nation with a high quality of life by the year 2030 that aims to transform Kenya into a newly industrializing, middle-income country for all citizens in a clean and secure environment. To date, significant progress and milestones have been achieved towards the realization of the Vision 2030.

In 2017 H.E. Hon. Uhuru Muigai Kenyatta, CGH, President of the Republic of Kenya introduced the Big Four Agenda which focuses on 4 key areas that will receive priority and contribute to the growing Kenyan economy: Manufacturing, Universal Healthcare, Food Security and Affordable Housing for all.

The Economy of Kenya

Kenya is the economic, financial, and transport hub of East Africa.  Kenya’s real GDP growth has averaged over 5% for the last decade. Since 2014, Kenya has been ranked as a lower middle income country because its per capita GDP crossed a World Bank threshold.

Infrastructure development remains a priority for the Government particularly the development of railways, road and ports. At independence Kenya had only 1,800 km of tarmacked roads. Successive governments played their part and built over 11,200 kms. The Standard Gauge Railway from Mombasa to Nairobi was launched in 2017.

Agriculture is the backbone of the Kenyan economy with about 75% of Kenya’s population of roughly 48.5 million, who work at least part-time in the agricultural sector, including livestock and pastoral activities. The main agricultural products include tea, coffee and flowers. Over which 75% of agricultural output is from small-scale, rain-fed farming or livestock production.

Tourism plays a significant role in Kenya’s economy with Kenya hosting a variety of touristic packages including National parks, world renowned beaches and the Maasai Mara wildebeest migration. The Nairobi National Park is the only National park in the world that is located 30 minutes away from a capital city.