DO YOU THINK KENYA WILL ACHIEVE VISION 2030

 Kenya Vision 2030 is the country’s new development blueprint covering the period 2008 to 2030. It aims to transform Kenya into a newly industrializing, “middle-income country providing a high quality life to all its citizens by the year 2030”. The Vision has been developed through an all-inclusive and participatory stakeholder consultative process, involving Kenyans from all parts of the country. It has also benefited from suggestions by some of the leading local and international experts on how the newly industrializing countries around the world have made the leap from poverty to widely-shared prosperity and equity. Kenya has made tremendous changes and this will surely make it achieve the 2030 vision.

“Vision 2030” plan charts a path toward an economically sound, sustainable future—and bringing that future within the reach of all Kenyans will depend on how easily they can access the tools they need to build their businesses and improve their quality of life. But access can take many forms. For small business owners and entrepreneurs, access to finance is key to growth.  City dwellers need access to affordable housing so they can raise families in neighborhoods near job opportunities.  Farmers rely on access to agricultural markets so they can sell their food while it’s still fresh and receive prompt payment. And all will require access to digital platforms as Kenya establishes a diverse and dynamic economy. 

Progress toward many of these goals is already significant, according to Amena Arif, IFC Country Manager for East Africa and Malawi. “Kenya has undertaken important political, structural, and economic reforms that have driven economic growth over the past decade and will continue to do so in the years to come, By facilitating access to new markets, Kenya’s private sector can power the economy forward during a post-pandemic recovery. That development has the potential to influence the region. Because Kenya is the largest economy in the East African Community, accounting for 47 percent of the region’s GDP, several other countries can benefit from “spill-over effects” of Kenya’s growth agenda, according to Jane Mariara, Professor of Economics at the University of Nairobi and the head of the Partnership for Economic Policy.

Kenya is the gateway to East Africa and has pioneered many initiatives that other countries in the region have and will continue to tap into, Products was unprepared for the cost of these changes and others—like the need to build a new, larger warehouse—and it needed access to financing so it could expand to meet demand.  Elex Products’ application for insurance finance was approved in just three days by Co-operative Bank of Kenya  and because the bank was so proactive, “We were able to adapt our business practices and make quick decisions.