Kenya economic outlook Stories

Data from the Kenya National Bureau of Statistics shows that 782,300 new jobs were created in 2024, a drop from 848,100 the year before.

The projection also represents a significant cut from its earlier forecast of 5.0 per cent growth made in January.

Official statistics from the Kenya National Bureau of Statistics show formal job creation fell to 75,500 in 2024, down sharply from 123,000 in 2023.

The lender credits the upgrade to robust growth in agriculture and vital service sectors, particularly fintech and mobile money.

The lender highlights the narrowing room for manoeuvre in the country’s budget, driven by ballooning debt servicing costs, persistent revenue shortfal...