This archive report was first published on 20 November 2019.
Kenya's economic growth is gaining international recognition, with foreign investors taking notice of the country's Big Four agenda. A Swiss Private Sector delegation, led by State Secretary for Economic Affairs Marie-Gabrielle, recently visited Kenya to explore investment opportunities in areas connected to the Big Four Agenda.
The manufacturing industry, universal health coverage, improving food security, and supporting the construction of affordable housing are all key areas of focus for these investors. While the Swiss delegation received significant attention due to its semi-official status, it is not the only foreign investor looking to capitalize on Kenya's Big Four agenda.
According to a report by Standard Chartered Bank Kenya, released in September, the government's Big Four agenda is driving the country's increased trade growth potential. Kenya's trade readiness score is particularly high, thanks to improvements in infrastructure and ease of doing business, surpassing most other African nations.
As a result, Kenya's economy is expected to expand by 5.8 per cent next year, according to an analysis of growth forecasts from 14 global banks, consultancies, and think-tanks. This growth is largely attributed to the government's emphasis on projects that can improve the lives of Kenyans, stimulating foreign investment and raising economic growth.
While some may argue that poverty is a complex issue that requires a magic solution, the reality is that long-term visions and carefully crafted policies are key to national development. Look at successful nations like China and South Korea, which initially focused on agricultural rural-based development before achieving economic growth.
Kenya is making progress in this area, with poverty decreasing from 36 per cent to 33 per cent over the past three years. In rural areas, poverty has decreased by 12 points in the last decade, largely due to policies that have increased agriculture productivity and raised farmers' incomes.
As Mr. Kitonga, a social commentator, notes, 'Having a debate about poverty and national economic policies is important and healthy, but it should be based on facts and knowledge.'
