Kenya Vision 2030
Kenya Vision 2030 is the country's development blue print covering the period 2008 to 2030. It aims to transform Kenya into a newly industrializing middle income country providing a high quality of life to all its citizens by the year 2030.
The Vision is based on 3 pillars: the economic, social and political pillars. The economic pillar aims to improve the prosperity of all Kenyans and achieve an average Gross Domestic Product (GDP) growth rate of 10% per annum. The social pillar seeks to build a just and cohesive society with social equity in a clean and secure environment.
The political pillar aims to realise a democratic political system founded on issue-based politics that respects the rule of law, protects the rights and freedoms of every individual in Kenyan society. Kenya Vision 2030 is to be implemented in successive five year Medium Term Plans. "Flagship projects" are expected to take the lead in generating rapid growth.
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BOTTOM-UP ECONOMIC TRANSFORMATION AGENDA
The Government of Kenya, under the leadership of President William Ruto, has embarked on the Bottom-Up Economic Transformation Agenda (BETA) as a strategic initiative to enhance the livelihoods and welfare of all Kenyans. BETA is aligned with Kenya's Vision 2030, aiming to drive the nation towards inclusive and sustainable economic growth.
BETA focuses on five key pillars expected to yield the highest impact at the grassroots level: Agricultural Transformation and Inclusive Growth; Transforming the Micro, Small and Medium Enterprise (MSME) Economy; Housing and Settlement; Healthcare; and the Digital Superhighway and Creative Economy. These pillars are supported by strategic interventions in infrastructure, manufacturing, the blue economy, environmental sustainability, education and training, youth and women empowerment, social protection, and good governance.
The Fourth Medium Term Plan (MTP IV) for 2023-2027, developed by the National Treasury and Economic Planning, is the blueprint for implementing BETA. MTP IV is designed to revitalize key sectors such as tourism, the creative economy, and the blue economy while promoting science, technology, and innovation to enhance Kenya's global competitiveness.
President Ruto has emphasized the importance of Public-Private Partnerships (PPPs) in financing the ambitious programs under MTP IV, which is projected to require KSh. 15.3 trillion. Key initiatives include the construction of affordable housing units, expansion of energy and communication infrastructure, and robust climate action measures such as the Jaza Miti Campaign, aimed at planting 15 billion trees by 2032.
BETA and MTP IV are set to propel Kenya towards realizing the goals of Vision 2030, ensuring sustained economic growth, resilience against climate challenges, and a brighter future for all Kenyans.
CURRENT EXCHANGE RATE
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Agriculture
Agriculture remains a vital part of Kenya's economy. Despite its share of gross domestic product (GDP) decreasing from over two-fifths in 1964 to under one-fifth in the early 21st century, the sector continues to provide essential raw materials to the manufacturing industry. It also generates valuable tax revenue and foreign exchange, which bolster the broader economy. Furthermore, agriculture remains the largest employer in the country, supporting a significant portion of the population.
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