World Banks says Kenya at a Tipping Point for Robust Growth

A new World Bank report announces that Kenya may be entering a phase of long-term, robust economic growth. The report notes that it expects growth from all segment’s of Kenya’s economy, but was especially encouraged by the growth in the ICT sector, a consequence of what it calls “Kenya’s ICT revolution.” The authors note that Kenya is growing faster than the World Bank anticipated and that the Bank has increased its growth forecasts, expecting economic growth in Kenya for 2011-2012 of 5.3%-6% annually.

“Several key factors are stimulating economic growth, including the new constitution, telecommunications, East African community integration, strong macroeconomic management and investment in public infrastructure,” Says Jonathan Zutt, the World Bank’s Country Director for Kenya. “Timely implementation of constitutional reforms and sustained investment in public infrastructure, especially in transport and energy, will continue to bolster business confidence.”

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