Kenya

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Kenya’s run of geologic luck continues, following the announcement of the country’s fourth consecutive discovery of oil by the UK's Tullow Oil and Canada's Africa Oil. Similarly, while activity in the natural gas sector is proceeding at a slower pace, following the recent departure of one explorer, the outlook for new finds is promising.
The IMF has predicted that Kenya’s current account deficit will improve this year, although its exports remain vulnerable to exogenous factors. As the government looks to boost its overseas sales, it must also work to encourage its two main trading partners – the EU and the East African Community (EAC) – to finalise a planned trade agreement to ensure it maintains preferential access to European consumers.

As one of the continent's heavyweight diplomatic players, and one of the largest economies in East Africa, Kenya has long served as a stepping stone for investors looking to expand deeper into Africa. In spite of its modest natural resources, the country has a comparatively diversified economy that has posted steady expansion in recent years. Although it saw a slowdown...

Africa has undergone an economic transformation over the past decade. While there is wide variation among the continent’s markets, its frontier economies have been among the fastest-growing worldwide, in a trend that will likely continue over the next decade. That growth is unlocking opportunities in sectors new and old  – one of the reasons why Africa offers one of the highest rates of return of developing regions.

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