Kenya is experiencing a remarkable economic resurgence, driven by deliberate policy shifts and structural reforms under President William Ruto’s administration. Despite facing post-pandemic economic shocks and prolonged election-related uncertainty, the Kenya Kwanza government has taken bold steps to restore stability and promote inclusive growth.
When Ruto assumed office, Kenya’s economy was reeling, with dwindling foreign reserves and a volatile currency. Today, reserves stand at over $9.6 billion, enough to cover six months of imports. The Kenyan shilling has stabilised, inflation has dropped significantly, and the prices of essential commodities such as cooking oil, sugar, and maize flour have decreased, improving household affordability.
Through a government-to-government oil deal, fuel prices have remained relatively stable, eliminating the erratic spikes of 2022. Electricity costs have also dropped by 21%, further easing the burden on consumers and businesses alike.
Agricultural reforms have revitalised key value chains, from sugar to coffee and miraa. Farmers are now enjoying higher returns, with coffee prices reaching Sh148 per kilo—the highest in 35 years. Similarly, macadamia, tea, and miraa farmers have seen significant price increases, driving renewed interest in farming and rural productivity.
The affordable housing programme is another transformative initiative. Kenyans earning as little as Sh20,000 can now become homeowners, with monthly payments as low as Sh3,900. Over 250,000 jobs have been created directly or indirectly, and more than 400 housing sites are currently under construction, with 700,000 homes in the pipeline.
Moreover, the Hustler Fund, a flagship financial inclusion tool, has disbursed over Sh70 billion to more than 25 million Kenyans, providing cheap credit and encouraging a culture of saving.
In infrastructure, securitising the Sh7 fuel levy has allowed for resumed road construction nationwide, improving transport networks and boosting economic activity.
Kenya has now risen to become the third largest economy in sub-Saharan Africa. As the country moves toward the 2027 elections, it’s becoming evident that Ruto’s policies are laying a firm foundation for sustainable growth and truly empowering Kenyans from the bottom up.
