Kenyan Economy Derailed by Corruption-Forbes Magazine Study

By Soko Directory Team / December 29, 2015




Corruption is the biggest threat to Kenya’s economic growth according to the new study that was conducted by Forbes Magazine and released this week.

The study indicates that corruption in both the public as well as the private sector is the main reason the country is crawling in realizing its full progress in terms of developments.

The study by Forbes Magazine assessed a total of 144 countries in the world where key businesses were put into considerations.

According to the report, Kenya might not realize faster growth as well as poverty reduction because of corruption and as a result of over reliance of some primary goods whose prices have often remained low.

Out of 144 countries, Kenya was at position 108 as the best country for doing business in the world in the year 2015.

In Africa, Kenya was placed at position 15 and this was largely based on the assessing of key business indicators.

Other countries that were ahead of Kenya out of the total 144 were Mauritius at position 37, South Africa at position 47, Cape Verde at position 71, Rwanda at position 72, Ghana at position 79, Senegal at position 80 and Tunisia at position 82.

According to the study, Kenya’s long term position as the economic hub of the East African region is threatened by the frequent terrorist attacks especially from the Alshabaab, poor infrastructure that is widely spread in the country and the high cost of doing business in the country.

In terms of technology development, Kenya was at position 94 out of 144. The country was placed at position 99 out of 144 in terms of investor protection, position 129 out 0f 144 basing on corruption, position 82 in terms of property rights and emerged position 41 basing on the innovation.

The country was placed at position 128 in terms of trade freedom and position 103 in terms of monetary freedom.

Denmark was position one in the world with a population of 5.6 million, 1.1 percent GDP growth, $44,600 per capita as well as trade balance of 6.3 percent.

Chad was the last one in the world with a population of 11.6 million, 6.9 percent GDP growth, $2,600 GDP per capita and a trade balance of -7.8 percent.

In Africa, Mauritius was placed position one with a population of 1.3 million, $18,700 GDP per capita and a GDP growth of 3.6 percent.


Article b y Juma Fred.

 



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author








Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2019
  • January 2019 (256)
  • February 2019 (216)
  • March 2019 (287)
  • April 2019 (254)
  • May 2019 (273)
  • June 2019 (100)
  • 2018
  • January 2018 (291)
  • February 2018 (219)
  • March 2018 (278)
  • April 2018 (225)
  • May 2018 (238)
  • June 2018 (178)
  • July 2018 (257)
  • August 2018 (249)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (284)
  • December 2018 (187)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (206)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (165)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (249)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (170)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950