Meeting with the Arab Bank For Economic Development
The State Department for Economic Planning, Principal Secretary, Dr. Bonface Makokha, held a meeting with the Arab Bank for Economic Development (BADEA) Legal Advisor, Mohamed H’Midouche at the Treasury Building today.
The Bank briefed the PS that they were in Kenya on a mission to evaluate Nairobi as a potential host for BADEA’s future regional office for East and Southern Africa.
The objectives of the Bank evaluation mission includes:
To conduct consultations with key stakeholders, evaluate infrastructure, logistics and operational costs, analyse socio-economic context of the Country and conduct site visits for potential office locations.
Kenya stands to benefit from the BADEA regional office in Nairobi which will enhance access to development finance for government and the private sector.
This will also foster closer collaboration between Kenya, the BADEA and its founding Arab States as well as reinforce Nairobi’s position as an international hub for multilateral organisations.
In addition, the BADEA regional office will provide employment and business opportunities for Kenyans.
On his part, PS Makokha gave a brief overview of the State Department’s mandate and emphasized on the importance of the data and policy reports produced by the Semi- Autonomous Government Agencies (SAGAs) such as Kenya National Bureau of Statistics (KNBS) and Kenya Institute for Public Policy Research and Analysis (KIPPRA).
“The reports provide valuable data and analysis on the Socio-Economic landscape,informing budgeting, planning, monitoring and investment decisions,” the PS said.
Kenya offers an elaborate and investor friendly policy environment anchored in a highly entrepreneurial robust legal framework.
During the meeting, a comprehensive presentation of the Kenya’s Economic Status based on the Kenya National Bureau of Statistics (KNBS ) 2025 Economic Survey Report was done.
Kenya’s Growth Domestic Product (GDP) has been at an average of 5.1% over the last 10 years. In 2024, the GDP grew by 4.7%, signalling continued economic recovery following earlier domestic and global shock disruptions. This projects an improved economic performance and strengthened investor confidence.
The Fourth-Medium Term Plan (MTP IV) which aligns with the government’s Bottom-Up Economic Transformation Agenda (BETA) priorities key pillars such as Agriculture, Micro, Small and Medium Enterprises( MSMEs) and Affordable Housing among others which corresponds well with the BADEA’s objectives for the Country.
Over the years, Kenya has outshined itself in trade relations, digital leadership, strategic geographical location, regional market access and commitment to reforms making it an attractive destination for investors seeking high-impact and sustainable returns. This underlines Kenya’s readiness for partnership driven growth.
The BADEA provides diverse financial instruments such as sovereign loans and capacity- building grants to support sustainable development in Sub-Saharan Africa which contributes to Kenya’s economic growth.
PS Makokha acknowledged the importance of effective collaborations and applauded the Bank’s effort and interest in considering Kenya as a potential regional headquarter for East and Southern Africa.
Also in attendance were; Ag. Economic Planning Secretary, Festus Wangwe, Directors of Planning, Benson Kiriga, Justus Mutua and representatives from the State Department for Foreign Affairs among others.
