The Economist Called it for Kenya
Quote from Ndubuisi Ekekwe on May 9, 2019, 2:22 PMThe Economist magazine sees huge growth in Kenya, and expects "Kenya to create significant opportunities for its own people and for investors in the coming decades".
Over the past few decades, the global economy has been transformed by the so-called economic miracle in east Asia. This saw the rapid development first of Japan, followed by a succession of other economies, most spectacularly that of China. In the decades to come, the east of another continent—Africa—looks to be a future growth hotspot. Kenya is the hub of this emerging region, and has been one of the world's fastest-growing economies in recent years.
Kenya received a record US$1.63bn of foreign direct investment (FDI) in 2018, equivalent to 1.9% of its GDP. Notably, this is spread across a range of sectors, including technology, infrastructure, tourism and manufacturing. This is one reason why, despite challenges like corruption, ethnic tensions and skills shortages, the Kenyan economy is less crisis-prone than many other emerging markets. Although it has large current-account and government budget deficits, the high level of FDI means that it is not too reliant on volatile portfolio financial flows from abroad. This is one reason that we expect Kenya to create significant opportunities for its own people and for investors in the coming decades
The Economist magazine sees huge growth in Kenya, and expects "Kenya to create significant opportunities for its own people and for investors in the coming decades".
Over the past few decades, the global economy has been transformed by the so-called economic miracle in east Asia. This saw the rapid development first of Japan, followed by a succession of other economies, most spectacularly that of China. In the decades to come, the east of another continent—Africa—looks to be a future growth hotspot. Kenya is the hub of this emerging region, and has been one of the world's fastest-growing economies in recent years.
Kenya received a record US$1.63bn of foreign direct investment (FDI) in 2018, equivalent to 1.9% of its GDP. Notably, this is spread across a range of sectors, including technology, infrastructure, tourism and manufacturing. This is one reason why, despite challenges like corruption, ethnic tensions and skills shortages, the Kenyan economy is less crisis-prone than many other emerging markets. Although it has large current-account and government budget deficits, the high level of FDI means that it is not too reliant on volatile portfolio financial flows from abroad. This is one reason that we expect Kenya to create significant opportunities for its own people and for investors in the coming decades