Topic > The Growth of the Economy in Africa

Index IntroductionKey Issues in KenyaTrendsIntroductionThe African country that will form the basis of this document is Kenya. Kenya is a major regional player in East Africa, with a significantly higher gross domestic product than any other country in East Africa. Despite steady growth in the country's economy, the unemployment rate is high. In a recent report published by the United Nations, it was found that the country's unemployment rate is 39.1%, the highest in East Africa, based on the Human Development Index report (United Nations, 2016). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayKey Issues in KenyaEconomic growth has consistently underperformed despite achieving better ratings for businesses in the global ranking. Kenya has struggled to address key issues, which have had a detrimental influence on the country's economy over the years. These factors include: drought, corruption, political uncertainty. The Kenyan market has been characterized by limited job opportunities given the growing population of unemployed, particularly young people. The Kenyan labor market is dual in nature, with a small number of workers in the formal sector and a significantly large informal sector, making it difficult to have a similarly balanced economy. After the difficult period experienced in 2008, the country regained its economic focus reaching 5.8% in 2016. However, the different actors have not created a better environment in which it is possible to have a better understanding on important global development projects interior of the country. The fact that 40% of the country's population demonstrates that the country's development agenda has not been effectively focused on the key pillars of development that aim to create a better environment in which individuals within the country can be engaged through economic empowerment and ensuring that unemployment levels are reduced. As a key regional player, Kenya is expected to put in place crucial strategies to ensure the economy develops on a rigorous basis (World Bank, 2016). Drought In February 2017, the Kenyan government declared the drought a national disaster with millions of Kenyans suffering from hunger and starvation. This showed that the government could not cope with the growing effects of the drought and sought help from the international community. Although the country boasts the availability of important water bodies such as the Indian Ocean, little has been done to create a better environment in which important policies can be developed to help alleviate the effects of drought, especially in the northern region of the country. The drought in Kenya has been detrimental to the development of the economy as the high number of people affected by hunger, which amounts to around 3 million, has put important aspects such as healthcare and food security at risk. Only 20% of the country receives heavy and regular rainfall, which means that the remaining 80% consists of semi-arid and arid areas. Kenya's economy is heavily dependent on agricultural products which account for at least 23% of the economy. High levels of crop failure and lack of food security mean the country is susceptible to economic collapse. The country is overly dependent on food imports, which significantly limits the country's economic growth (Welch, 2013). Corruption Kenya is one of the highly corrupt countries in the world and as a result, there are many who have acquired wealth through fraudulent means. The inability, 2017).