Deputy President Kithure Kindiki has praised President William Ruto’s economic stewardship, saying the Kenya Kwanza administration has successfully stabilised the country’s macroeconomic fundamentals and laid a firm foundation for sustained growth. He spoke at State House, Nairobi, during an engagement with 5,500 graduate interns onboarded under the Affordable Housing Programme.
Prof. Kindiki noted that when President Ruto assumed office in 2022, the administration deliberately prioritised fixing the economy’s foundations before pursuing aggressive expansion. He said the first two years were spent restoring stability to key macroeconomic indicators, a strategy that is now bearing fruit.
He cited easing inflation, declining interest rates, a relatively stable currency and record-high foreign exchange reserves as evidence of progress. According to the Deputy President, Kenya is currently enjoying the highest foreign exchange reserves in its history, underscoring the success of the government’s stabilisation efforts.
Building on these gains, Kindiki said the government is now entering a new phase focused on job creation, income growth and broad-based economic expansion. He explained that the third and fourth years of the administration are geared toward translating macroeconomic stability into tangible benefits for households, particularly through employment opportunities.
The Deputy President linked this shift directly to the Bottom-Up Economic Transformation Agenda (BETA), emphasising that every job and income opportunity brings Kenya closer to its long-term development goals. He described the onboarding of 5,500 interns under the Affordable Housing Programme as a practical demonstration of the administration’s commitment to empowering young people.
President William Ruto, speaking at the same event, hailed Kenya’s economic ascent, declaring that the country now ranks as Africa’s sixth largest economy. He said Kenya has surpassed Ethiopia and Angola through disciplined policies and strategic decisions made since 2022, marking a significant turnaround in the country’s economic fortunes.
“We have made the necessary decisions. Today, I can confidently stand before this gathering and before the people of Kenya that our economy is way different from what it was in 2022,” President Ruto said. He highlighted key indicators, noting that inflation has dropped from 9.6 percent to 4.5 percent, easing cost-of-living pressures, while the shilling has strengthened with the dollar exchange rate falling from a high of 165 to 129.
Describing affordable housing as a flagship project of his administration, President Ruto said the programme is driving job creation, skills development and economic activity across the country. Prof. Kindiki, however, cautioned that growth must be matched with strict professional standards and accountability, calling for firm consequence management to ensure safety and quality as Kenya continues on its path of economic transformation.
