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Get to Know About Kenya
Kenya is a nation in East Africa, adjoining the Indian Ocean in the southeast. Ethiopia to the north, South Sudan to the northwest, Uganda to the west, Tanzania to the south, and Somalia to the east. Nairobi is the capital and the most populous city.
Kenya is an ethnically multilingual country with the Bantu Swahili language and English which serves as the official language. The population is estimated to be approximately 52 million inhabitants
Kenyan economy continues to be bullish as it stands as a place to invest in Sub-Saharan Africa. Its economy is estimated to grow at 5.9 percent; however, the private sector is likely to be depressed due to commercial banks withholding credit (interest rate capping) in support of less risky government securities. Kenya’s economy is tipped to hit a projected Sh10.1trillion in 2019 financial year according to IMF reports. However, the government needs to engrain macroeconomic stability to maintain the growth impetus and the doing of business in Kenya.
The main concerns facing the country is the rising public debt, which stands at Sh5.2trillion, and high unemployment levels pose negatively to the economy. The vast investments by the government as well as the private sector amidst a favorable macroeconomic environment, including low inflation and controlled interest rates, continue to fuel its current economic growth. Doing business in Kenya will continue to have investor confidence if concrete efforts are made to curb corruption and unemployment levels.