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Economy - overview:
The regional hub for trade and finance in East Africa, Kenya has been hampered by corruption and by reliance upon several primary goods whose prices have remained low. In 1997, the IMF suspended Kenya's Enhanced Structural Adjustment Program due to the government's failure to maintain reforms and curb corruption. A severe drought from 1999 to 2000 compounded Kenya's problems, causing water and energy rationing and reducing agricultural output. As a result, GDP contracted by 0.2% in 2000. The IMF, which had resumed loans in 2000 to help Kenya through the drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. Despite the return of strong rains in 2001, weak commodity prices, endemic corruption, and low investment limited Kenya's economic growth to 1.2%. Growth lagged at 1.1% in 2002 because of erratic rains, low investor confidence, meager donor support, and political infighting up to the elections. In the key 27 December 2002 elections, Daniel Arap MOI's 24-year-old reign ended, and a new opposition government took on the formidable economic problems facing the nation. In 2003, progress was made in rooting out corruption and encouraging donor support. GDP grew 5% in 2005. |
Trade Fairs,
Exhibitions, Conferences: |
Kenya International Trade Exhibition
The Gateway to East African Market of 300 million consumers. Besides its own market of 30 million consumers, Kenya is the only comfortable distributor of goods to other East African countries such as Uganda, Tanzania, Ethopia, Somalia and several other East-Central African Countries. The overall market can be estimated to be that of 300 million consumers.
Situated on the East Coast Of Africa, and having the largest Sea Port in Mombasa, the country is the only incoming source of products to Africa by sea from the East. The capital Nairobi, is one of the most developed and modern city in Africa having all facilities as any other developing city in the world. Modern construction is a common view in the cities of Kenya which include high rise buildings and sky scrapers. |
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