The Report: Kenya 2016

The Report: Kenya 2016

Kenya is one of the economic and political heavyweights of East Africa. Despite recent security issues, it is recording strong economic growth and maintaining its leading position in the region. Recent discoveries of new oil, gas and water reserves and a young population give further cause for optimism, and the government is working to put the right policies into place to maximise the country’s potential. 

The Kenyan economy performed comparatively well in 2015, even in the face of global economic headwinds. According to the World Bank, GDP growth is expected to reach 5.4% for the year, aided in large part by sustained public sector capital spending. The country has a strong private sector and received encouraging signs of new oil, gas and water reserves, which if harnessed appropriately bode well for future growth. The country’s medium- to long-term economic outlook is robust. With over 40% of the population under the age of 15, Kenya stands to benefit from a significant demographic dividend, provided that sufficient jobs can be found when this population enters the workforce. The country has a reasonably sized industrial base, competitive infrastructure and a large agricultural sector, all of which offer opportunities for capital-intensive investment.

OBG & Kenya