World Bank projects Kenya’s 2021 growth at 4.5%

By: Shadrack Wanyama  @MountKenyaTimes

The World Bank has projected that Kenya’s economy will grow by 4.5% this year as vaccinations and lockdown easing help it recover from a coronavirus-induced slump last year.

The bank in its biannual report yesterday said that although Kenya still remained highly vulnerable to the pandemic, the growth is expected to climb to above 5% in the subsequent two years

The bank based the projection on firms boosting production and investments as lockdown measures are lifted, a slight recovery in the services sector due to vaccinations, and adequate crop harvests.

The main risks include a slow vaccination programme caused by supply shortfalls and logistical challenges, as well as any weakening in the global economy, which could curb demand for Kenya’s exports.

“The near-term economic outlook for Kenya, as elsewhere, remains unusually uncertain and contingent on the course of the pandemic,” the World Bank said.

The institution urged the government to enhance bank supervision after the quality of assets was hit by the impact of the coronavirus crisis, and to stick to its debt reduction path through raising more revenue and cutting wastage

Kenya’s entire adult population set for vaccination

President Uhuru Kenyatta on Tuesday said 26 million Kenyans, constituting the entire adult population, will have been vaccinated by 2022 at the completion of the ongoing inoculation schedule to help the country attain herd immunity.

This is after the Government revised its Vaccination Deployment Plan, specifically geared towards increasing the speed of achieving this goal

The Head of State said that through negotiations with Johnson & Johnson, his administration managed to get the vaccines at a lower price.

“For the price of 10 million vaccines, we have negotiated for them to deliver 13 million vaccines,” he noted.

“And because the Johnson and Johnson vaccine is administered using a single shot, the speed of rolling out our vaccination programme will be accelerated. Using these vaccines and others in the pipelines, this is how we will vaccinate Over 10 million Kenyans by Christmas 2021 and 26 million by the end of 2022,” he added.

The president also indicated that Kenya intends to vaccinate an extra four million young adults by June 2022 if a vaccine for the under-age population is released.

“With a vaccinated population of 30 million people, this will allow us to begin the journey for ‘Herd Immunity’ against this pandemic. And this is our intention for the next 12 months,” the said President.

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