Strengthening a Vibrant Domestic Investment Market for Economic Growth in Kenya

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Abstract:

A thriving private sector is central to achieving the objectives of Kenya’s Vision 2030. In fact, the success of Vision 2030 is largely premised on the role of the private sector in achieving the countries growth objectives and, thereby, creating greater wealth and employment opportunities. In general, the private sector in Kenya is vibrant and in good health. Kenya is a promising place to do business, with growing markets and good opportunities. Importantly, there is a widespread intellectual appreciation amongst Kenyans, including government officials, that the private sector is important and will be the main driver of growth, rather than the state. Positively, the business climate has improved over the last decade. Frustratingly, it is the same recurrent challenges that prevent the private sector from reaching its full potential: political uncertainty, corruption, infrastructural deficits, and an untapped informal sector. The purpose of this study is to measure the private sector’s actual contribution to the Kenyan economy and, as a result, the progress and success of the aforementioned policies. The findings of the study are that private sector still has a lot more muscle to exercise in order to valuably contribute to economic growth in Kenya. It proposes the adoption of several items under the ambit of political factors; economic factors and social factors that can be strengthened further in an effort to increase the contribution of private investments in promoting rapid economic growth.

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Strengthening a Vibrant Domestic Investment Market for Economic Growth in Kenya

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