Kenya has successfully reclaimed its position as the leading economy in Eastern Africa, surpassing Ethiopia with a notable economic expansion that has pushed its GDP to Sh17.18 trillion. The country now ranks 14th in Africa based on GDP per capita, which stands at Sh320,840. Meanwhile, Ethiopia has dropped to 28th among 44 African nations in the latest IMF rankings, largely due to the depreciation of its currency to qualify for financial support from global lenders.
This economic milestone reflects the results of tough but strategic policies enacted by the Kenya Kwanza administration since the beginning of its term. Inflation has significantly declined, lowering the cost of essential goods, with electricity prices dropping by 25% and mortgage rates falling by 6.2%, improving homeownership. President Ruto’s recent visit to China focused on advocating for reforms in global financial systems to benefit developing countries and pushing for climate justice, while also securing infrastructure and investment deals. These include railway and highway expansions, bridge construction, and industrial investments across key counties, with over Sh130 billion worth of agreements expected to create more than 30,000 jobs and accelerate Kenya’s path toward industrial growth.
