Research

East Africa macro economic overview 2020

The report highlights the economic development in Kenya, Ethiopia, Rwanda, Uganda and Tanzania

November 19, 2020

East Africa is the fastest growing economy in the real estate sector from an economic development perspective.

The region’s prominent services sector has stimulated significant demand for office space across key commercial hubs over the last decade. This is due to countries transitioning from primarily agricultural-based to services-based economies. The industrial sector remains comparatively underdeveloped and the agricultural sector’s average economic contribution has declined by 5.1%, down from 33.4% in the early 2000’s and 28.3% in 2018. In contrast, the services sector contributions have increased by 9.2% over the same period, averaging 53.8% since 2018.

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