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28 EMERGING MARKETS KENYA
East Africa’s anchor economy (as well as sub- Saharan Africa’s fourth largest), Kenya has shown similar levels of economic growth
to neighbouring Tanzania, albeit with a marginally more diversi ed economy.
The World Bank’s most recent Kenya Economic Update (KEU) in October 2016 projected a 5.9% growth in 2016, rising to 6% in 2017, driven by a widespread cast of supporting sectors.
Unlike many emerging markets in sub- Saharan Africa, Kenya is less reliant on natural resources uncovered within its territories. Thus, the country has experienced an escalating tide of organic growth within its services industries.
Kenya’s vibrant services industry has made rapid progress in the last decade, with industries ranging from the  nancial and banking sectors to telecommunications, IT services and tourism all experiencing rapid growth.
In particular, the  nancial services industry has been transformed by a series of technological innovations originating from leading individuals and groups within the country.
Kenyan entrepreneurs have consistently made pioneering moves within the services
sector, illustrated none more so by mobile banking innovations such as M-Pesa and PesaLink, which have been adopted by a host of national banks across the country.
Agriculture, construction, manufacturing and mining have also continued to contribute towards Kenya’s economic advancement,


































































































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