richest country in east africa

Richest country in east africa 2020

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Kenya is by far the richest country in East Africa. The country is the third largest economy in sub-Saharan Africa after Nigeria and South Africa. Kenya is also the economic, financial, and transport hub of East Africa.

Main sectors that contribute to the economy include  agriculture,fishing, manufacturing, tourism and financial services.

Kenya is one of the biggest exporter of tea and coffee in Africa.

The country has a Nominal GDP of $98 billion. Kenya is position 6 in Africa and 61 in the world in terms of nominal GDP.

See also : Biggest Economies In East Africa 2020

With a population of 47,564,296 (2019 census) people ,Kenya has a GDP per capita of $2,010 (nominal, 2019 est.) leading other East African countries.

Kenya is also Classified as Lower-middle income economy while the rest of east african countries are classified as least developed countries.

Human Development Index categorises kenya to have a medium human development index while the rest of East african countries have a low human development index. Human Development Index uses life expectancy ,education , and per-capita income to rank countries.

Read also : Biggest Economies In Africa 2020

The ease of doing business in kenya is staggering and mind-blowing high compaired to other east african countries.The Population below poverty line is lower in kenya compared to the rest of the EA countries.

Kenya has developed a modern railway system (standard gauge railway) that runs from the port of mombasa to Nairobi. Its one of a kind in East africa.

The capital city of kenya, Nairobi, is the financial hub of east africa. No dout about that. Major companies and organisation in the world are head quatered in Nairobi.

Kenya has abundance of natural resources.  It has joined other countries in the world as an oil exploration country. Returns are expected to boost the economy further by 2025 .

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If your not convinced that kenya is the Richest country in east africa, then tell me which country you think is the richest and why on comments section below. Cheers!

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