The digital economy is expected to add KSh 1.4 Trillion or 9.24% of the GDP to Kenya’s economy by 2025 according to the Accenture, Africa iGDP Forecast. It is one of the fastest-growing sectors in the country. The report estimates that the online industry will contribute KSh810 Billion to Kenya’s GDP this year.
Kenya leads other African countries in terms of the digital economy’s contribution to the GDP at 7.7%, followed by Morocco and South Africa at 6.82% and 6.51% respectively.
Some of the major businesses driving the online industry in Kenya are; E-commerce firms such as Copia and Jumia, Fintech products like MPESA, and MShwari, HealthTech platforms like Daktari Africa, and Food-delivery startups.
In addition, Kenya has a wealth of tech talent which includes over 58,000 professional developers, the fourth largest group in Africa, behind South Africa, Nigeria, and Egypt. The developers make significant contributions to the internet economy through their innovative solutions.
Project Loon, a partnership between Kenya and Google meant to provide internet access in remote areas is also expected to push the growth of the internet economy in Kenya by giving internet access to nearly all people in the country.
Kenyan Wall Street