Kenyan banks leading service sector in EA economies rescue
As of February 2023, the IMF considered Somalia and Sudan to be in debt distress, with Comoros, Djibouti, Ethiopia, Kenya and South Sudan, prime candidates of moving to this status. Global leaders gathered in Paris on June 22, 2023 for a new consensus on reforms to help debt-burdened developing countries face. PHOTO | FILE
The service sector in East Africa has shored up the region’s economies, a trend that has been consistent since last year, led by Kenyan banks and pension funds and the Mauritius insurance industry.
A study on key drivers of growth and sustainable development in Africa shows that Kenya is the largest institutional investor hub in the region.
