Connect with us

Business News

Kenya’s manufacturing industry growth is mediocre – World Bank ▷ Kenya News



Although manufacturing is one of the pillars of President Uhuru Kenyatta’s Big Four agenda, a new report has shown the sector’s growth has been very slow compared to those of other countries.

A World Bank report titled Jobs in Global Value Chain (GVC), indicates even Jubilee government’s ambitious plan to create more than a million jobs by 2022 may not be realised owing to the slow pace of growth in the country’s manufacturing industry.

READ ALSO: President Uhuru Kenyatta’s Big Four agenda is the real deal and here is why

The World Bank report titled Jobs in Global Value Chain (GVC) described Kenya’s manufacturing sector growth pace as mediocre. Photo: The Real News Network.
Source: UGC

READ ALSO: Sakata mpya ya NYS kuhusu mabilioni ya pesa yafichuliwa

In the report seen by on Wednesday, August 14, the Washington-headquartered global lender described Kenya’s job growth in the manufacturing sector as “mediocre”, comparing it to those of Indonesia and China.

“Global value chain job growth in Kenya was mediocre and comparable to China and Indonesia,” the World Bank noted in page 27 of the 76 page report covering 14 years to 2014.

READ ALSO: Kenyans flock Rivatex demanding employment opportunities after Uhuru’s promise of 3K jobs

Besides Kenya, other African countries that performed poorly were South African and Senegal which recorded negative growth going by the report.

The poor performance by the three countries was attributed to decline in market share in the overall global value chain jobs.

“Kenya, Senegal and South Africa all lost market share, depressing GVC job growth,” the World Bank said.

World Bank attributed Kenya’s poor performance to a decline in market share in the overall GVC jobs. Photo:CGTN Africa.
Source: UGC

READ ALSO: Did Kenya’s economy generate an extra 850,000 jobs in 2018?

According to the international lender, Bangladesh and Vietnam had the fastest growth in the GVC jobs and were followed closely by Ethiopia and India.

Do you have an inspirational story you would like us to publish? Please reach us through or WhatsApp: 0732482690. Contact instantly.

Nairobi man building his own cars – On Tuko TV

Subscribe to watch new videos


var FBInitEvent = new Event('fb:init');

document.dispatchEvent ? document.dispatchEvent(FBInitEvent) : console.warn('dispatchEvent is not supported')

window.FB.Event.subscribe('edge.create', function(response) { if (window.Site.fbLiked && (window.Site.fbLiked instanceof Function)) { window.Site.fbLiked(); } }); }; }

(function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); = id; js.async = !0; js.src = ""; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));

Source link





Social Media Auto Publish Powered By :