Kenya is the largest and most advanced economy in East and Central Africa. Its GDP accounts for more than 50 per cent of the region’s total and in terms of current market prices, its 2014 GDP stood at $58.1 billion. Kenya’s strong growth prospects are supported by an emerging middle class and an increasing appetite for high-value good and services. Its economic position, unlike many other countries in the region, is not reliant on oil or only a few sectors.
This means that the country has benefitted greatly from the global drop in oil prices and, crucially, has a diverse economy that is not reliant on extractives. Growth in 2014 stood at 5.4 per cent and is expected to grow at 6 per cent this year and 6.6 per cent in 2016, according to the World Bank.