The Economic Pillar of Vision 2030 seeks to improve the wealth of all regions of the country.
The Economic Pillar of Vision 2030 seeks to improve lives of all Kenyans by achieving a 10% Gross Domestic Product (GDP) growth rate.
Gross domestic product (GDP) is the market value of all goods and services produced within a country in a year.
Watch and listen to this video to understand the Economic Pillar of Kenya's Vision 2030
Six sectors make up the larger part of Kenya’s Gross domestic product(57%). These six sectors provide for nearly half of the country’s employment.
Kenya aims to be among the top 10 tourist destinations in the world.
This is through
- Providing tourists with unique experiece such as Mara and Nakuru
- Marketing little visited parks
- Upgrading the standards of attractive parks e.g. Ruma & Marsabit
- Attracting international business travelers
The benefits of this will be:
- Increased revenue from tourism.
- Creation of jobs.
- Development and preservation of historical sights.
What part of Kenya do you dream of visiting?
Wildbeest Migration at the Mara which attracts Tourists from all over the world
2. Increasing value in Agriculture
Kenya will raise incomes in agriculture, livestock and fisheries.
Modern Irrigation system
Kenya can add value to her products by processing them before they reach the market.
For example, Kenya sells unprocessed and processed coffee:
Can you think of another agricultural product that we produce and process in Kenya?
3. Better wholesale and retail trade sector
Raise the number of products in the local market and increase marketing systems for local products to external markets.
The Vision plans to empower informal sector operators (commonly referred to as "jua kali"), by providing them with:
- Permanent and serviced facilities where they can work and sell
- Access to credit (loans)
- Access to markets where they can sell
- Simplification of business registration and trade licensing.
Have you ever made and sold something?
If not, give it a go - you might just surprise yourself!
4. Manufacturing for the regional market
Kenya aims to become the provider of choice for basic manufactured goods in Eastern and Central Africa.
What can you do to support this?
What does this mean? Discuss with your classmates and family.
5. Information Technology Enabled Services/ Business process off-shoring
Providing business services via the internet to companies and organizations all over the world.
Think about how this information that you are reading is getting to you.
Who made the software?
Who chose the colours?
Who wrote this sentence?
The answer to all those questions is:
One day, Kenya hopes to have many more solutions, like eLimu that help people in all walks of life for all sorts of things.
As part of the Vision, Konza City will be a sustainable, world class technology hub and major economic driver for Kenya.
An artist's rendering of what Konza City might look like
6. Financial Services
Having a vibrant and globally competitive financial sector will create jobs and promote high levels of savings.
It will be achieved through:
- Making Kenya an International Financial Centre to attract more foreign investments
This is expected to encourage Foreign Direct Investment and safeguarding the economy from external shocks.
- Deepening of Capital Markets
- Single Revenue Collector
What is an investmeent?
Look at the image below for a clue, then discuss it with your teacher, your family or someone you know who has their own business (however big or small it may be)
- gdp by elimu used under CC_BY
- Vision_2030_economic_640_24f by elimu used under CC_BY
- wild-beast-migration by www.greatplainsconservation.com/bushbuzz/?p=2554 used under CC_BY
- coffee_in_tins by elimu used under CC_BY
- modern_farming by elimu used under CC_BY
- jua_kali by elimu used under CC_BY
- buy_kenyan by elimu used under CC_BY
- konza_silicon by www.standardmedia.co.ke & eLimu used under CC_BY
- capital_markets by elimu used under CC_BY
- foreign_investors by elimu used under CC_BY
- investment by elimu used under CC_BY
- kra by elimu used under CC_BY
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