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Kenya is back!

Discussion in 'Kenyan News and Politics' started by Mnairobi, Sep 13, 2010.

  1. M

    Mnairobi JF-Expert Member

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    Sep 13, 2010
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    Kenya's economy will grow by 5.2 percent in 2010, a government advisory body said on Saturday, a forecast that exceeds the government's previous estimate.

    "The economy registered positive growth of 2.6 percent in 2009 and is on a course to recovery with a projected growth of 5.2 percent in 2010," Amos Kimunya, transport minister, told a news conference after a meeting of the National Economic and Social Council.

    The government had forecast growth of 4.5 percent for 2010.

    East Africa's largest economy took a hit from a bloody post-election crisis in 2008 which cut growth to 1.6 percent, down from a peak of 7 percent in 2007.

    A power-sharing deal brokered by former UN Secretary General Kofi Annan stopped the fighting and created Kenya's first coalition government with Raila Odinga as prime minister.

    Thereafter drought and the global financial crisis hurt its recovery, with growth coming in at 2.6 percent last year.

    Kenya's Vision 2030, a long term development plan, has a medium-term aim to achieve growth rates of 7-10 percent and to transform the country into a middle income economy.

    The council said the government's target of having a growth rate of 10 percent by 2012 would have to be re-examined.

    "Given the fact that the Kenyan economy has been growing at a pace much lower than envisaged under Vision 2030 ... the Vision must be revised to reflect the reality on the ground," Kimunya said.


    The council said it welcomed the government's increased investment in electricity generation, meant to match ever-increasing demand, but said it was concerned at the large spread between banks' lending and deposit rates.

    "The council noted and expressed concerns on the large margin between the interest charged by banks and that paid to savers and recommended the appropriate measures to be taken to address this anomaly," Kimunya said, reading a statement on behalf of the President Mwai Kibaki and Odinga.

    Some analysts say that a traditionally conservative banking sector has been reluctant to cut its rates in light of a long history of high credit risk in Kenya.

    In late July, the central bank's Monetary Policy Committee cut its benchmark Central Bank Rate to 6 percent from 6.75, saying it wanted to send a strong message to commercial banks to lower their stubbornly high lending rates.

    Kibaki signed a new constitution in August after Kenyans endorsed it earlier in the month. The new law is meant to curb the president's power and increase civil liberties.

    "The council noted the endorsement and subsequent promulgation of the document has given fresh impetus for economic growth and national development," Kimunya said.

    - Reuters
     
  2. PakaJimmy

    PakaJimmy JF-Expert Member

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    All the best Kenya!...huku kwetu bado tuko dorooo!...tangulieni tutawakuta mbele ya safari tukiwa na Slaa!
     
  3. M

    Mnairobi JF-Expert Member

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    but TZ is growing as well!
     
  4. The Son of Man

    The Son of Man JF-Expert Member

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    Man, Kenya is incomparable kwa east African countries. We Tzs are still limping!
     
  5. M

    Mnairobi JF-Expert Member

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    loool, i beg to differ.
     
  6. The Son of Man

    The Son of Man JF-Expert Member

    #6
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    Its true buddy, look at the Kenyan currency how do you compare it with the rest of EAs? as per TZ we are 18 to 19 times below. Incredible!
     
  7. The Son of Man

    The Son of Man JF-Expert Member

    #7
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    Not only that, yes in Tz many roads are under construction but none of them can be compared with Thika highway. Its true man you are by far beating us when it comes to economical issues. Only that we are beating you when it comes to social attachments!
     
  8. M

    Mwafrika JF-Expert Member

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    Mnairobi, unazile picha za matengenezo ya Thika road?
    All of a sudden nimekumbuka ile thread yako ya picha za Nai
    I like them flyovers zinazojengwa kule.
    Weka picha if you have them ... may be Kikwete can learn something from you guys.

    Update 1 - there is a thread with pics - http://www.jamiiforums.com/international-forum/73167-region%92s-eyes-on-thika-road-expansion.html
     
  9. N

    Namtih58 JF-Expert Member

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    If you look at all the EA countries, we all have our strengths and weaknesses, would not be great if we were to a way of collecting all these disparate knowledge bases and availing them to all in EA, and/or coming up standards based on the best implementations in EA that everyone would have to follow instead of trying things that we already know fail every year yet our neighbor has a working model.

    But then again TIA (This Is Africa) Ill keep dreaming.
     
  10. Kichuguu

    Kichuguu Platinum Member

    #10
    Sep 13, 2010
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    Tanzania tuna ahadi nyingi tangu mwaka 2005 hatujui zitakamilika lini
     
  11. s

    shytnis Member

    #11
    Sep 13, 2010
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    You can get more and quality pics here:
    http://www.skyscrapercity.com/showthread.php?t=917216
     
  12. Nyaralego

    Nyaralego JF-Expert Member

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    Mkuu Namtih58,
    You have said it!!! It is indeed true that within the EA countries we have our strenghts and weaknessess. It's in our interest to pick and chose the best from each country and each other. We can learn alot from each other. I am glad that this particular post has generated real responses. Sometimes it's favourable to sit on the fence and be able to see both sides and acknowledge what is good.
     
  13. TzPride

    TzPride JF-Expert Member

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    Sep 14, 2010
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    Good luck Kenya! Mimi nimefurahaishwa sana na demokrasia iliyopo Kenya! hasa baada ya kupata katiba mpya kwa njia ya kidemokrasia na amani, naamini Kenya watapaa.... Tz elimu ya kijamii ni hakuna kitu, watu wanajua "kijani" na " njano" tu! Nilikuwa nikikasirishwa na wakenya wakisema tumekaa kiujamaa jamaa....lakini sasa nakubali.....wengi tumezubaa na tumefanywa kitoweo na CCM! Mungu saidia Tz.
    Heee! huko Uganda ndo hovyooooo! ati wanataka kuwa na rais wa maisha! wenzao wanaaamka wao ndo wanalala, bora sisi Tz tumelala muda sasa huenda tunakaribia kuamka. Uganda is a disgust!
     
  14. WiseLady

    WiseLady JF-Expert Member

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    Sep 14, 2010
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    Goodluck Kenya, and big up for such a good move.Oooooh GOD! have mercy for Tz
     
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