Turning Barriers into Bridges: Why Pro-Competition Reforms Are Key for Kenya’s Growth and Jobs Goals

Kenya has made considerable progress over the past decade, diversifying its economy and attracting strong investment in sectors ranging from horticulture to ICT. - Kenya breaking news | Kenya news today | Capitalfm.co.ke..

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A new report by the World Bank Group and the Competition Authority of Kenya reveals that pro-competition reforms are crucial for Kenya's economic growth and job creation, despite the country's vibrant entrepreneurial spirit. Structural barriers hinder opportunities, leading to higher prices, fewer jobs, and slower innovation.

Kenya's Product Market Regulation (PMR) index is among the most restrictive globally.
Authored by World Bank Division Director Qimiao Fan, the report highlights that reducing regulatory barriers could boost GDP growth by more than 0.5% annually and create 400,000 jobs per year.
Barriers include extensive state participation in commercial markets and opaque rule-making, leading to issues like 53% higher electricity tariffs than Uganda's.

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