Economic Growth and Trade

Speeches Shim

With a gross domestic profit (GDP) of $95 billion, Kenya recently attained lower-middle income status. It has successfully established a diverse and dynamic economy. Kenya serves as the point of entry to the East African market of 300 million people. However, this economic growth has not been inclusive, and as a result, many Kenyans continue to live in poverty. This has been exacerbated by COVID-19, alongside persistent constraints including corruption, inefficient and inequitable systems, exclusion of youth and women, lack of reliable electricity and sanitation, and increasing crises such as droughts.

USAID works to address these challenges to reduce poverty and boost job creation. To achieve this, USAID collaborates with the Government of Kenya (GoK), the private sector, and the Kenyan people to increase economic opportunities; strengthen market systems to be more inclusive, accountable, efficient, and competitive; improve the resilience of vulnerable households in the face of recurrent crises and shocks; and leverage Kenya’s position as an economic hub in the region.

Issuing Country 
Date 
Tuesday, May 4, 2021 - 10:00am

Last updated: May 04, 2021