In a promising sign for the continent's economic growth, East Africa has emerged as the sub-region with the highest rate of economic growth in Africa. According to a report by the World Bank, the East African Community is expected to outperform other African sub-regions, with a growth rate of 4.7% in 2024 and an anticipated rate of 5.7% in 2025-2026.

Kenya, a standout performer in the region, is projected to see its economy rise to 5% in 2024 and 5.1% in 2025-2026. This growth is attributed to the country's robust currency, which has appreciated by 21% year-to-date by end-August 2024, as well as improvements in macroeconomic circumstances, including reduced inflation and a more stable local currency.

The growth in East Africa is being driven by private consumption and investment, with sectoral production supported by the recovery in tourism and agriculture. This upswing is expected to have a positive impact on the tech and startup community, creating new opportunities for innovation and entrepreneurship in the region.