Higher investment pace needed in Kenya

20/05/2011 - Kenya property & investment news Posted by Bob Brunskill
Higher investment pace needed in Kenya

Kenya needs to up the pace of its investment growth, it has been suggested.According to a recent report in the Economist, the country's economy grew faster than at practically any point in the previous three decades in the first few years of the 21st century.However, in 2008 and 2009, it slumped down again. This was largely due to widespread tribal violence, but a disputed presidential election and the global financial crisis also had an impact.Last year, growth was found to have picked up again slightly to around 5.6 per cent.However, the Economist stated that this is "not good enough". The country's "millions of young adults could fuel far faster growth rates" if they were gainfully employed.So far the country's economy has benefitted from macroeconomic stability and deregulation, rather than the "rich bounty" of minerals or oil found in other African economies.