Kenya, East Africa’s economic powerhouse, marked a significant milestone in December celebrating six decades of independence. As the nation commemorated Madaraka Day recently, President William Samoei Ruto reflected on the enduring spirit that birthed Kenya’s self-rule in 1963, emphasizing the ongoing pursuit of social and economic freedom.
Over the past 60 years, Kenya’s trajectory has been one of admirable diligence. President Ruto acknowledged the nation’s progress during Madaraka Day celebrations, asserting that the people of Kenya have tirelessly worked to perfect their political freedom through sustained socioeconomic advancements.
According to the African Development Bank’s economic outlook, Kenya’s GDP is projected to grow by 5.6% in 2023 and 6.0% in 2024, solidifying its status as a powerhouse within the East African community. Dr. Musalia Mudavadi, Prime Cabinet Secretary and Cabinet Secretary for Foreign Diaspora Affairs, highlighted Kenya’s global influence, citing its participation in international trade, key memberships in regional bodies like the East African Community (EAC) and the Africa Continental Free Trade Area (AfCFTA), and crucial economic partnerships such as AGOA with the United States and an Economic Partnership Arrangement with the European Union (EU).
Kenya’s commitment to global harmony is evident through its active participation in United Nations peacekeeping efforts. Dr. Mudavadi sees these accomplishments and challenges as stepping stones toward a future of even greater promise as the nation celebrates six decades of independence.
Economically, Kenya remains robust, having exported $7.4 billion globally in 2022. President Ruto has announced plans to expand the 89 existing Export Processing Zones (EPZs) by introducing five new zones, fostering foreign investment and supporting economic growth.
The nation’s technology ecosystem is also on the rise, with Maryanne Ochola, Managing Director of Endeavor Kenya, noting the nascent but promising startup landscape. Key developments, including the laying of the first undersea internet cable, the launch of M-PESA, and the establishment of innovation hubs like iLab at Strathmore University, underscore Kenya’s potential in the tech sector.
Mudavadi proudly emphasizes Kenya’s pioneering role in the mobile banking revolution, expressing hope that the nation’s legacy will be woven from the threads of unity, determination, the resilient spirit of the African people, and an unwavering pursuit of a better tomorrow for every African.
- Tags: Economy, independence, Kenya
