Kenya Richer Than Tunisia and Libya - Report

Kenya has surpassed some of Africa's economic heavyweights rising in the list of top 10 richest countries in the continent.

In a recent report by the International Monetary Fund, the country is now ranked at position eight based on Gross Domestic Product (GDP), coming ahead of traditional strong economies such as Libya and Tunisia.

According to the study, Kenya has a GDP of Sh5.3 Trillion which pushed the nation from position nine last year to the current place.

The country's economy has majorly been supported by the export of cash crops such as tea, coffee and fresh flowers together with the service industry in which tourism has been pointed out as a major contributor to Kenya's stability.

In the statistics, the richest country in Africa is Nigeria with a GDP of Sh59.4 Trillion attributed to abundant oil reserves and a strong manufacturing sector.

South Africa comes second with a Gross Domestic Product of Sh34.1 Trillion owing to its mineral resources of gold and diamond.

Other countries which featuring in the list of most powerful economies in Africa include; Egypt, Algeria, Angola, Morocco,Sudan, Libya and Tunisia.

In 2014, Kenya moved four positions to join the top 10 wealthiest economies when it was placed ninth, a position that was was attributed to a growth in sectors such as real estate, telecommunications and manufacturing.

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