The government of Kenya has reviewed its progress for the year 2024, highlighting key achievements in economic transformation while acknowledging persistent challenges, including global uncertainties and limited cash flow in the economy. Speaking during a press briefing, Government Spokesperson Il Dr. Isaac Mwaura emphasized strides made under the Kenya Kwanza administration’s “Better Plan” agenda, anchored on five pillars: agriculture, affordable housing, universal healthcare, MSMEs, and the digital economy.
Mwaura admitted to widespread financial distress among Kenyans, citing “lack of money in circulation” as a significant challenge. However, he assured citizens that the government has implemented five measures to address the situation, without divulging specifics.
Despite these challenges, the government touted its success in stabilizing the economy through sound monetary policies, boosting investor confidence, and meeting international financial obligations, including the timely repayment of the Eurobond.
The government’s fertilizer subsidy program has been pivotal in reducing fertilizer costs by 67 percent, spurring a rise in maize, wheat, and rice production, with 95 million bags of maize and 10 million bags of wheat harvested this year. This initiative has improved food security and reduced farming risks, while efforts in the tea and sugar industries have bolstered export earnings and achieved self-sufficiency, respectively.
Notably, the dairy and leather industries have witnessed growth, with increased milk prices and new jobs created in leather processing, further contributing to the country’s economic resilience.
The affordable housing initiative has delivered 4,888 units for sale and registered over 550,000 potential homeowners through the “Boma Yangu” platform. The program has created 200,000 jobs to date, with projections of 1 million jobs in the next four years as the government targets 840,000 new housing units.
Additionally, the certification of 213 artisans under the Artisan Development Program has improved employability, boosting participation in the construction sector.
The government’s rollout of TaifaCare under the Social Health Authority marks a significant milestone in providing universal healthcare. To date, 16.4 million Kenyans have been registered under the Social Health Insurance Fund, with expanded benefits covering critical care services. Community health promoters have registered over 7.8 million households, screening millions for conditions like diabetes and hypertension.
A landmark collective bargaining agreement has also enhanced the welfare of healthcare professionals, increasing doctors’ salaries and addressing salary arrears.
The government has championed the growth of MSMEs by disbursing over KSH 60 billion through the Hustler Fund, liberating entrepreneurs from predatory lenders and creating opportunities for business expansion. Kenya also emerged as Africa’s leading startup hub in 2023, attracting USD 800 million in funding.
The digital economy has expanded significantly with 13,000 kilometers of fiber optic cable installed, connecting 74,000 public institutions and setting up 1,360 Wi-Fi hotspots. Over 693,000 Kenyans have acquired digital skills, enabling participation in the burgeoning freelance and creative industries.
Kenya’s tourism sector has flourished with a 69 percent increase in arrivals, credited to streamlined electronic travel authorizations. Additionally, President William Ruto’s robust foreign policy has secured investments and strengthened Kenya’s diplomatic presence, particularly in sports, blue economy, and economic diplomacy.
The Spokesman reaffirmed the administration’s commitment to inclusive development, emphasizing its focus on empowering farmers, traders, and entrepreneurs. The government aims to tackle challenges in education, agriculture, and environmental conservation while sustaining the economic momentum.
“Our journey is marked by resilience, determination, and the unwavering belief in building a Kenya that leaves no one behind,” Mwaura said
This comprehensive review underscores the government’s ambition to transform the nation amidst economic adversity, fostering sustainable growth and improving livelihoods for millions of Kenyans.