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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenyan economy resilient amid political uncertainty: official

By Chrispinus Omar NAIROBI (Xinhua) -- The Kenyan economy has shown much resilience amid perceived political uncertainty, an official tasked with enhancing the country’s image and national identity said on Thursday.

Brand Kenya Board (BKB) Chief Executive Officer Mary Luseka said the East African nation continued to show resilience owing to its well diversified economy, which is the fourth largest in Sub-Saharan Africa with a gross domestic product (GDP) in excess of 60 billion U.S. dollars.

“Over the last five years, Kenya has surpassed global and regional economic growth rates to emerge into an economy that ranks favorably among its peers. This has definitely positioned Kenya as an attractive investment destination,” Luseka said in a statement issued in Nairobi.

Luseka’s statement came at a time when economic analysts are projecting a rosy outlook for Kenya’s economy irrespective of the outcome of the ongoing presidential election petition hearing at the Supreme Court.

Share prices at the Nairobi Securities Exchange have in recent weeks gone up, with the Kenyan shilling gaining strength against the U.S. dollar.

The East African nation has established itself as a regional commercial hub, nurturing a stable economy with highly trained working force as well as a well developed industrial capacity.

Luseka also credited Kenya’s positive performance to the calm and respectful conduct exhibited by Kenyans that has guaranteed continued economic activity, adding that this is a clear demonstration that Kenya’s democracy has come of age and that the country’s systems of governance are robust.

             

 

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