Browsing: Agriculture sector

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Kenya’s agriculture sector grew by 5.1 percent in 2020, thereby preventing a contraction of the economy, amid the coronavirus pandemic, which ravaged a majority of other sectors.

Data from Deloitte’s East Africa Economies Report 2021 indicates that the sector remains fundamentally important to the Kenyan economy, contributing about 33 percent of the GDP and 56 percent of the employment, both formally and informally.

The report paints mixed performance in the sector in 2020, for instance, as of May 2020, Kenya’s Agricultural sector’s outlook was grim due to the locust swarm infestation affecting domestic agricultural production.

However, as of Q4 2020, the sector reflected a revamped outlook owing to favourable rains and success in beating back a second wave of desert locusts.

“As such, the sector is estimated to have posted a 5.1 percent growth in 2020, emerging as the silver lining sector,” the report says.

Exports

The report also shows …

A healthy manufacturing sector is a fundamental path to economic growth and development. It is key in creating employment as it absorbs the unemployed population into productive decent paying jobs that help improve their standards of living. Historical evidence shows how industrialisation has transformed countries such as the United Kingdom, Germany and most recently, China, by growing their economies tremendously and earning them amongst the best performing economies in the world. According to the Global Manufacturing Competitive Index, South Africa, Egypt and Nigeria are leading in the evolution of manufacturing in Africa, while Ethiopia and Morocco are following closely behind; all of them have adopted policies that promote manufacturing development. …

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