How graft is turning Kenya into a graveyard for startups

World Bank notes among the factors limiting growth in Kenya is a high level of informal businesses in the economy. [Denish Ochieng, Standard]

Corruption and excessive bureaucracy are among the key factors turning Kenya into a graveyard for startups, the World Bank has warned.

In a new report, the institution says the economy overly relies on established companies, some of which have been around since independence.