AfDB ranks Kenya ninth industrialised African country
Kenya is the ninth most industrialised nation in Africa, the latest African Development Bank (AfDB) industrialization report says.
The continental lender said top performers typically generate high manufacturing value-added per capita, with a substantial proportion of manufacturing goods bound for export.
Dubbed the Africa Industrialisation Index’s 19, the reports' indicators cover manufacturing performance, capital, labour, business environment, infrastructure, and macroeconomic stability.
High cost of doing business
Kenya and Uganda were top in East Africa, whereas Central Africa is led by Gabon, followed by Equatorial Guinea and the Democratic Republic of Congo, Congo and Cameroon.
“These countries are characterised mainly by the strong performance of their manufacturing sector compared to other countries,” the report says.
Kenya is currently battling high energy prices and high cost of labour compared to her neighbours a move that has seen investors exit to countries with lower costs of doing business.
“The top performers are not necessarily those with the biggest economies, but those countries that generate high manufacturing value-added per capita,” AfDB said. Kenya relies mainly on imports for consumption with most products coming from China and Europe.
