NAIROBI, (Xinhua) --
economy is projected to expand by 6.5 percent in 2015, up from
5.3 percent in 2014, a pan- Africa bank said on Tuesday.
Bank (AfDB) Group East Africa Resource Center Director Gabriel
Negatu told a media briefing in Nairobi that the growth will be
fueled by increased agricultural output following optimum rains.
expansion will also be accelerated by Kenya’s stable prices as
well as the reduced cost of doing business through investments
in infrastructure,” Negatu said during the release of the 2015
African Economic Outlook.
growth is well above Africa’s average target growth of 4.5
percent in 2015, according to the bank.
Negatu said Kenya
remains a major player in regional integration and is making
appropriate investments to reap benefits for regional
AfDB said that the
East African nation is now the regional hub for financial
services and Information Communication Technologies (ICT).
to attract investment leading to the development of an ICT
enabled economy,” Negatu said, adding that the biggest risk
facing Kenya is the insecurity largely caused by terrorism.
attacks is hampering Kenya’s growth and could prevent the
nation from fulfilling its fullest potential,” he said.
The AfDB official
urged Kenya to ensure regional, age and gender - based inclusion
so that all citizens benefit from economic growth regardless of
He noted that good
efforts have already been made through several initiatives.
However, these actions are necessary but not sufficient,” Negatu
said, adding that Kenya’s 2015/2016 budget attempts to address
some of the inclusion challenges. .