- Kenya’s economy is booming, with inflation coming down to 6.6 per cent the lowest in 20 months, from a high of 9.3 per cent.
- In fact, the price of food items has gone down significantly such as Unga to Sh130.
Image: ENOS TECHE
Happy New Year my great reader! Hope you had a great holiday season full of relaxation with family and friends, through the grace of GOD.
It’s yet another year and I pray and believe that we shall walk the journey together as we flesh out what is happening around us. 2023 was a tough year for many and we can only wish that this New Year, we shall have a better return in the end.
Despite this, our country was able to triumph a lot of battles to procure progress. Last year, the world was able to finally shake off the precautionary economic measures that enabled many economies survive the post-Covid 19 shocks.
The Americans continued with their dollar mopping policies that wreaked havoc on other currencies of ‘lesser mortals’ almost a weaponisation of the green buck, against the financial wellbeing of billions of people around the world.
However, Kenya stood firm, to defend its place and space in the affairs of men. This country has been ranked as the best country to visit in Africa, with Nairobi being recommended by Lonely Planet as the best city to go to in.
In fact, Mombasa, our coastal city has just received its first flight from Prague in 10 years, and over 14 Dreamliner flights are going there weekly from Ethiopian Air, and many other airlines. KQ is operating between 9 to 12 flights a day! The beach hotels and camps were highly overbooked during this festive season.
Kenya’s economy is booming, with inflation coming down to 6.6 per cent the lowest in 20 months, from a high of 9.3 per cent exactly the same period last year. In fact, the price of food items has gone down significantly such as Unga to Sh130. It’s also refreshing to note that our economy grew by 5.9 per cent between July and September last year, with monies being sent by our diaspora ranked as the third globally, having grown by 14 per cent in this year alone.
This is good enough reason to demonstrate that our investment in education is exceptional as Kenyans are amongst the most sought after internationally in terms of human resource. Interestingly, our economy is ranked as the 29 the fastest growing in the world, even as Xi Ji Ping, the Chinese leader acknowledges for the first time that the Chinese economy has started to show signs of slowdown and that many Chinese citizens are finding it hard to get employment.
Our country continues to shine in sports and athletics at the international level, with athletes such as Faith Kipyegon putting us on the global map. In the arts, the Moipei sisters continue to wow the world with their performances in the US and many other countries where they are invited to perform.
On transport and access to the city, many outsiders marvel at how fast one is able to move from the airport to the CBD and beyond in record time, owing to the heretofore legendary traffic!
Our tea and coffee continue to be ranked as amongst the best globally, with Mombasa being the biggest tea auction market globally. Due to the government’s policy on value addition, our first locally processed tea has been shipped to Brazil as a new market for our products.
It is interesting to note that more than 30 heads of states and government have visited our country so far, a clear indication that our country has earned a lot of respect globally. King Charles made a decision to first visit Kenya as his country of choice in Africa. The climate action has had its leadership in Africa anchored in Nairobi, with many delegates attending the first Africa Climate Summit that witnessed 12 heads of state and government coming onboard.
Our foreign direct investment which had nose-dived in the last 10 years have now started to show signs of recovery, with Kenya targeting investments worth over 10 billion dollars in the short term. Companies such as airbus, various pharmaceutical companies and banks have expressed interest in opening their operational offices/hubs in Nairobi.
Predictable weather, highly skilled manpower, improved infrastructure and a very high quality internet that is better and faster than in many first world countries have really boosted our prefer-ability. For example, the United Nations Projects Office has been permanently moved to Nairobi as its headquarters for all UN projects.
It’s highly commendable that Kenya hasn’t defaulted in meeting its public debt obligations, with the country having paid nearly 11 billion as interest to the $2 billion Eurobond that is due for payment in June this year. The country is restructuring its debts to retire short term, high interest loans, by going for long term, low interest ones.
In addition, fuel prices in the country can now be predictable for at least two months in advance, due to the government fuel stabilisation programme that saves the country from dollar crunches each month.
The people of Kenya are strong, focused, opinionated, intentional and resolute in what they pursue. They aren’t afraid to speak their mind and are very entrepreneurial.
For this reason, Kenya shall stand again, Kenya shall rise again, Kenya shall prosper. In the spirit of peace, unity, a common sense of purpose, anchored upon patriotism as a pillar to our shared future!
The writer is the government spokesperson