Ten Hard Facts about Kenya “The great East African Country”

The other day I was challenged by my CEO on economic facts about my home Country but did not have the basic fact on my fingertips. Today I choose share this to my Kenyan Network so that they may not fail like I did.

These are the few key fact about Kenya I have been able to put together- Key basic fact you need to know  

1.      Kenya is one of the beautiful country (Googleup of all year round moderate weather, with stunning beaches  lower middle-income country of 48.46 million (85% Christians, 10% Muslim and others 5%) warm/welcoming and peace loving people of 43 tribes (2016 WB) and is 580,367 km2 in size.

2.      Ranked 9th out of 53 in Africa, Kenya is the biggest and most advanced and complex economy in east and central Africa with a 70.53 billion USD GDP (2016 WB) with annual growth about 5% in last 10 years with Per Capita Income (PPP) of $1,800. My view is that Kenya can attain double digit growth if firm leadership  of Rwanda style is adopted (democracy is too expensive and seem to stifle long term growth of developing countries), adopting effective public and corporate  governance, creating national super state owned enterprises to be able to take up mega projects,  change to efficient serve the nation working culture while ruthlessly fight fraud and corruption

3.      In Kenya Telecommunication and financial sectors contribute 62% of GDP, Agricultural 22% of GDP -sector employs 75% of the workforce compared to less than 3% in the food secure developed countries. Industry and manufacturing account  for 16% of GDP

4.      On trade- Kenya exports tea, coffee, horticultural products, petroleum products, cement, fish mainly to- Uganda 9.9%, Tanzania 9.6%, Netherlands 8.4%, UK, 8.1%, US 6.2%, Egypt 4.9%, Democratic Republic of the Congo 4.2% (2012). Kenya imports machinery and transportation equipment, petroleum products, motor vehicles, iron and steel, resins and plastics from China 15.3%, India 13.8%, UAE 10.5%, Saudi Arabia 7.3%, South Africa 5.5%, Japan 4.0% (2012)- source -Wikipedia

5.      Kenya is the second most attractive investment destination in Africa after Morocco, on the back of stable governance, human development and economic diversification, according to Ernst & Young’s Africa Attractiveness Index of 2017. Kenya is East and Central Africa's hub for financial services with Nairobi Securities Exchange (NSE) is ranked 4th in Africa in terms of market capitalization. Kenya has the Africa best and world’s 14th-fastest mobile internet and highest bandwidth per person in Africa.

6.      Kenya is a world leading tourism destination ( Africa leader in 2017 - Forward Keys-report) synonymous with the word "safari" as top rated gateway to one of the world’s most evocative and exciting travel- Kenya’s wildlife is unrivalled by any other in the world- Lake Nakuru National Park-lecked with thousands of flamingoes, Lamu-UNSECO historical site, Lake Naivasha, Nairobi park, Tsavo park, Mombasa/Malindi sand beaches- some of the best in the world,  Maasai Mara-  with wild beast migration “one of the World wonders, Mount Kenya National Park and Hell's Gate National Park- where you find obsidian caves and hisses with natural geysers and hot springs.

7.      Kenya is the world leader in mobile money where one-third of Kenya's gross domestic product (GDP) flows through mobile money service called-MPesa term ubiquitous with Kenya- key services include use of phone to transfer money, buy goods,  paying school fees, sending money home or donating to a church and buy sovereign bond etc.

8.      Kenya is the Africa leader in geothermal energy and was first country to tap geothermal power and the largest producer of geo-energy, harnessing power from steam released by hot rocks beneath the Rift valley. Kenya ranks in the eighth position among the largest geothermal in the world, putting the east African country among the top green energy leaders...

9.      Kenya has 42% of its people below poverty line with a challenge on youth unemployment becoming national security challenge- My view is that  this can be reduced by 50% under vision 2030 and changing leadership to more people centered  transformative lone view leadership approaches .

10.   Kenya being Anglophone democracy and existence excessive freedoms without accountabilities, Kenya faces usually scanty political turbulence during one of the most competitive elections in the world. However these turbulences mildly affect economic progress.

These are my few points about Kenya-Kindly note this presentation is my personal view and only indicative actual based on personal opinion and on quick desk top based research.