Every day, Kenya’s capital Nairobi is facing endless traffic jams. Our colleagues spend hours every day to commute to and from work. One Kenyan colleague escapes traffic by leaving home at 4.30am, others by leaving the office as late as 9pm. Given this congestion, escalating costs of living and high crime, why are Kenyans moving into cities more rapidly than ever – more 250,000 every year?
Kenya economic update
The world is in turmoil. The combination of the Japanese earthquake, tsunami and nuclear crisis, the conflict in Libya and the European debt crisis, may change the way we look at the world. Newsweek put it most dramatically last week in its headline: “Apocalypse Now”
The perspective of developing countries is different. They appear to be a beacon of stability in these turbulent times. Africa is set to grow again by more than 5 percent in 2011--for the 7th time in 8 years.
This week, the World Bank launched its second Kenya Economic Update. We have been positively surprised to see such a strong uptake of our previous report and were pleased to have a full house at the launch and informal briefings we have in the run-up of the launch. These Economic Updates aim to replicate a model of shorter, crisper and more frequent country economic reports, which have become a trademark of the World Bank’s analytical presence in other countries, in particular China and Russia.
Today the World Bank launched its first “Kenya Economic Update” and we want to use this opportunity to launch the blog “Kenya Can … End Poverty” as part of Shanta’s “Africa Can ...” blog. After leaving Indonesia in July 2009, this also brings me back to the community of bloggers.
The title of this first Kenya Economic Update is “Still standing – Kenya’s slow recovery from a quadruple shock with a special focus on the food crisis”.