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Can Kenya and Ethiopia help build a closer East African neighbourhood? Kenya and Ethiopia have been at the forefront of East Africa’s economic progress in recent years, but Christian Toben, Regional Head, Africa at Commerzbank, stresses still more must be done to build regional integration


Christian Toben

ontroversy over Kenya’s general elections has made the headlines in recent months. But look behind the headlines, and the economic picture remains one of resilience. While growth is set to slip slightly to 5.3 per cent in 2017, it is expected to rebound from next year onwards at an annual average of six per cent. Over the past decade, in fact, the country has been among the standout economic performers on the African stage. Now recognised by the World Bank as a ‘middle-income country’, Kenya has recorded an average of almost six per cent GDP growth per year since 2010. Kenya is by no means the only wellperforming East African economy (see Chart 1). In the same period, northern neighbour Ethiopia’s average annual growth has been pushing the 10 per cent mark, making this economy one of

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Banker Africa #51 - March 2018  
Banker Africa #51 - March 2018  

This issue of Banker Africa features Jean-Claude Bastos De Morais, Founder and Group CEO, Quantum Global. He discusses the growing Gulf-Afri...