Ruto hails Kenya’s rise to Africa’s top six economies
By Faith Lagat, January 23, 2026President William Ruto has celebrated Kenya’s economic ascent, declaring the country now ranks as Africa’s sixth largest economy, surpassing Ethiopia and Angola through disciplined policies and strategic decisions.
Speaking to graduate interns onboarded under the Affordable Housing Programme at State House, Nairobi, on January 23, 2026, President Ruto highlighted the transformation since he took office in 2022.
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,” he stated.
Key indicators of growth and stability
President Ruto pointed to significant economic indicators. Inflation has dropped from 9.6 percent to 4.5 percent, easing cost-of-living pressures on households. The Kenyan shilling has strengthened, with the dollar exchange rate falling from a high of 165 to 129.
He added, Just watch this space in the coming months, signalling optimism for continued improvement. Foreign exchange reserves have also surged, rising from about $7 billion, roughly two and a half months of import cover, to a historic high of $12.3 billion.
“These are numbers that I am not telling you. These are numbers that are available in any financial metrics,” he emphasised.
Continental ranking and regional leadership
Highlighting the broader achievement, President Ruto said Kenya’s robust growth has propelled it upward in Africa’s economic rankings. “Our economy has grown and now we have overtaken Ethiopia, we have overtaken Angola, we are now the sixth largest economy in Africa,” he declared.
The IMF has previously acknowledged Kenya’s climb from eighth to sixth position in Africa. Reflecting on inherited challenges, Ruto recalled global analysts once flagged Kenya among six African nations at risk of debt-driven collapse.
“Many had listed Kenya among six African countries that were headed for economic collapse due to debt,” he noted in Swahili. While five nations succumbed to crisis, Kenya avoided the fate through careful planning. “Five went under, but Kenya was spared because we organised our affairs well,” he explained.
President Ruto framed these gains as a foundation for ongoing economic stability. “I can now say with confidence, the economy of Kenya is stable. Our currency is stable, our foreign exchange earnings are stable, and that is why Kenya is now the sixth largest economy in Africa,” he affirmed.
Amid critiques over unemployment and taxation, he maintained that the reforms reflect long-term benefits, stemming from difficult but necessary decisions that have positioned Kenya as a regional leader and set the stage for sustained prosperity.