What is the economy of kenya?
Sunday, January 3, 2010 10:15Hi, can anyone give me a discription of the economy of Kenya? Also include if it’s capitalism, socialism, communism, etc. What role do the citizens play in the economy? How much control does the gov. have? What is the currency and exchange rate? What credit cards are accepted? Any ATMs?
Also, please give me some information on this and be discriptive so I can understand. Also it would be great if you included some web pages I can check out as well. Thank you! Please help me out! ( :
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Mkenya Halisi says:
January 3rd, 2010 at 11:15 am
The kenyan economy is mainly dependent on Tourism and Agricultural production and its a capitalistic economy.The common citizen does not have much role to play in the economy since its only 30% of the kenyan population that holds 70% of the kenyan wealth.The currency used in kenya is Kenya shillings(KSHS or KES).All the major credits cards are accepted in kenya and even travelers checks.Most ATM are VISA ATM hence you can withdraw from any ATM though at a cost of between ksh150-Kshs 500 depending on the bank.Today’s exchange rate is kshs $1=Kshs 79.5.though it keeps fluctuating.For the latest exchange rates visit the website below
http://www.xe.com