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Kenya
Real GDP growth slowed to 5.5% in 2022 from 7.5% in 2021, attributable to the drought, increased commodity prices, and tight global financial conditions. Growth was driven on the supply side by services and on the demand side by household consumption. Inflation rose to 7.6% from 6.1% in 2021, driven by food and energy inflation. Inflation was moderated by subsidies and raising the policy rate to 8.25% from 7% in 2021.
Key Facts
Bank intervention strategy
- Priority area 1 - Support for industrialization.
- Priority area 2 - Enhancing skills and capacity development.
Under Priority area 1, the objectives are i) to reduce the cost of doing business by investing in critical national and regional infrastructure, namely transport, energy, water sanitation; ii) to support private sector development for value addition and job creation through policy, legal, institutional, and regulatory reforms; iii) support SME’s increased participation in value addition activities in priority areas (manufacturing, agro-processing, and housing.
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Resources
Knowledge Products
African Housing Dynamics Lessons from the Kenyan Market
Contacts
Regional Development, Integration and Business Delivery Office (RDIB)
Mr. Jonathan NZAYIKORERA, Executive Director
Mr. Ronald Justin CAFRINE, Senior Advisor
Mr. Admasu Nebebe GEDAMU, Advisor
Ms. Maris WANYERA, Alternate Executive Director
African Development Bank Group
Khushee Tower
Longonot Road, Upper Hill
Nairobi, Kenya
Phone: (254) 20 2712925/ (254) 20 2712926/ (254) 20 2712928
Fax: (254) 20 2712938