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Kenya

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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.

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Key Facts

Flag:
Kenya flag
Capital:
Nairobi
Population 2023:
54 million
Date of membership:
24 January 1964
Kenya
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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