Opinion – A few thoughts on Kenya’s economic progress

Earlier this year, Kenyans went to the polls to elect their fourth president. Many considered this year’s election as one of the most crucial in the nation’s 50-year history as it was the first election under the new constitution that called for a devolved form of government. While the presidential election was hotly contested, it is instructive to look into the country’s best kept secret for economic growth under the leadership of former President Mwai Kibaki – non-interventionist policies.
Up until the election of Mr. Kibaki in 2002, most sectors of the economy were under direct control of the government. State-owned corporations such as the Kenya Power and Lighting Company had failed to cater to a majority of the population. Economic growth was stifled with resources allocated to government cronies. Corruption was rife and bureaucracy was suffocating. The result was a stagnant economy that regressed in real terms through the 1990’s as other economies around the world were capitalizing on positive global trends of technology and globalization.