Top 10 Most Developed Industries in Kenya
Kenya is one of the East African countries with a thriving economy. In 2022, the economic growth has rapidly risen which is very impressive compared to other countries. The main contributors to this growth are the various industries that make up the backbone of the Kenyan economy.
In recent years, the Kenyan government has put a lot of effort into pushing for industrial development and economic diversification. This has led to rapid growth in the country’s industrialization sector. It also helped make Kenya one of the most developing nations on the continent.
Here are the Top 10 Most Developed Industries in Kenya:
1. Telecommunication Industry
The telecommunication industries in Kenya have grown steadily over the years with more innovations being developed.
Some of the major companies in this sector include Safaricom and Telkom Kenya among others. Safaricom is the largest mobile network operator in Kenya with over 25 million subscribers as of 2016, though it continues to face stiff competition from Airtel and Telkom Kenya.
2. Financial Services Industry
Most Kenyans rely on financial services such as banks, insurance, microfinance companies as well as Saccos for their savings and loans needs. The financial services industry is on a high growth trajectory and continuous innovation has been witnessed over time.
3. Tourism Industry
Tourism is one of the biggest foreign exchange earners in Kenya, accounting for 12% of GDP in 2016. Most tourists visiting the country usually come to see wildlife (such as elephants and lions), and the scenic landscape.
4. Agriculture Industry
Agriculture has long been an integral part of the Kenyan economy. The sector contributes 20 percent of the Gross Domestic Product (GDP) and the country’s main exports include tea, coffee, horticulture, and dairy products.
5. Fishing Industry
Fishing is not only a source of food for coastal Kenyans but also a source of livelihood for many coastal communities where fishing is the main economic activity. The fishing industries have grown due to the high demand for fish end prudcuts.
6. Mining Industry
The mining industries in Kenya have seen a dramatic rise in recent years due to interest from foreign investors and it has become one of the most developed industries in the country. However, there have been cases of conflict between local communities and investors due to land ownership issues.
7. Construction Industry
Construction Industries in Kenya have seen a steady growth rate over the past decade due to massive investments by both government and private entities into infrastructure projects such as roads, railways, and airports among others.
8. Transport and Services Industry
The Transport and Services Industry plays a key role in the economic development of Kenya. Its contribution to GDP is approximately 10 percent while its share of employment is estimated at 27 percent. This sector has been identified as one with great potential for growth, job creation, and poverty reduction.
Kenya has a comparative advantage in transport services owing to its strategic position on the East African coast and the Indian Ocean. The port of Mombasa is not only a major transit point for Uganda, Tanzania and Rwanda but also serves landlocked countries like Burundi, the Democratic Republic of Congo (DRC), South Sudan, and Ethiopia. Kenya also has a network of airfields that provide easy access to most parts of the country and facilitate international connections.
Transport industries in Kenya facilitate ease of doing business by enabling movement of goods and people within the country, importation of raw materials needed for production and exportation of finished products to foreign markets.
9. Health Industry
The health care sector is now remitted to the growing service industries in Kenya which are benefiting various sectors of the economy. Increasingly, healthcare professionals are turning innovative to help Kenya achieve optimal utilization of the resources allocated for healthcare and improve the quality of its citizen’s health status. The growing capacity in the sector is putting Kenya a step ahead of her peers in Africa in terms of public health.
10. Education Industry
Education Industries in Kenya are booming sectors that have been experiencing growth at an exponential rate. The major key players in the industry include the government, private organizations, and individuals. The government of Kenya provides education free to all students in government primary and secondary schools under three categories; free, inclusive and affordable.
The Education industry benefits all three levels of the country’s education system: primary, secondary and higher education.
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With the increased activities in these industries, there is a need to have hi-tech and fast machines that can help process the heavy workload and produce quality goods and fast.