With a population of 56 million and a gross domestic product (GDP) growth rate of 4.5 percent in 2024, Kenya is among the fastest-growing economies in Sub-Saharan Africa.
The country’s development is anchored in the Fourth Medium Term Plan (2023-2027) under Kenya Vision 2030, which aligns with the Bottom-Up Economic Transformation Agenda (BETA). These frameworks prioritize inclusive growth through investments in agriculture, digital innovation, micro, small, and medium-sized enterprises (MSMEs), and youth empowerment.
Agriculture remains a key pillar of the economy, contributing 21.3 percent to GDP in value added and employing over 40 percent of the total population, including more than 70 percent of the rural populace. The sector also accounts for 65 percent of export earnings.
Kenya benefits from a highly skilled workforce, a robust private sector, and a young population, with over 75 percent under the age of 35. This demographic dividend fuels a vibrant entrepreneurial ecosystem and a rapidly expanding digital economy, which is projected to create 300,000 new jobs by 2028.
However, as of 2024, only 7 percent of women-owned MSMEs in Kenya have formal access to finance. This limited access continues to be a major barrier to growth and sustainability for women-led businesses, especially in rural areas. System-wide challenges exacerbate this since over 80% of MSMEs operate informally, restricting legal protections and public procurement opportunities. Persistent skills gaps in digital and business management hinder innovation amid gendered time burdens as well as inadequate rural infrastructure limits market linkages to export channels. These barriers, compounded by climate vulnerabilities and regulatory hurdles impede inclusive scaling in agriculture and the digital economy.
Since 2014, MEDA has partnered with small and medium-sized businesses, small entrepreneurs, and farmers to increase the economic growth of rural counties across Kenya. Through our projects, we provide business consulting and service provider assistance, access to finance and investment capital, and opportunities to access debt or equity financing for investment partners and financial service providers.
Decent Jobs:
Individual entrepreneurs or smallholder farmers if their work achieves at least one of the following:
Clients:
Individuals, businesses and other organizations directly benefiting from financial or technical assistance from a MEDA intervention as part of a formal contract, including the following sub-categories:
