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Kenya ranked seventh

12 Sep

Although some African countries have made progress economically, the region still lags behind the rest of the world.

It is therefore worth noting that some countries are making strides and putting the African continent on the map with respect to national competitiveness.

According to the latest Global Competitiveness Index for 2011-2012, published by the World Economic Forum, Kenya has been ranked the seventh most competitive country in Sub-Saharan Africa; but what does it mean for a country to be competitive? How is the competitiveness of an economy measured anyway?

The World Economic Forum defines competitiveness as “the set of institutions, policies, and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the level of prosperity that can be earned by an economy. The productivity level also determines the rates of return obtained by investments in an economy, which in turn are the fundamental drivers of its growth rates. In other words, a more competitive economy is one that is likely to grow faster over time.”

As the economy continues to grow, this is likely to reinforce the nations’ position as East Africa’s economic, commercial, and logistical hub.

I just thought it would be comforting to know that as you continue to send money to Kenya for whatever reason, you are making an investment into a competitive economy and you are definitely guaranteed to see competitive returns on your investment.

 
 

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