| Updated Tue, February 14th 2017 at 09:14 GMT +3Last week, Kenya hosted the inaugural Germany-African Business Summit, a forum that is the brainchild of Germany, the fourth-largest economy in the world and the biggest one in Europe. Germany, whose economy is valued at $3.4 trillion (Sh348 trillion), is looking to tap into opportunities in Kenya, and signed a declaration that will lead to the foundation of the Eastern African German University of Applied Sciences in Kenya. Last year, Germany recorded a slower annual economic growth rate at 1.5 per cent, compared to Kenya’s 5 per cent. The cost of living in Germany is 5.9 times higher than that of Kenya, according to Nation Master, a statistical body that facilitates comparisons of public data. This means that while the average monthly disposable salary of a Kenyan is $481.21 (Sh49,800), a person living in Germany spends $2,851.85 (Sh295,221).

Source: Standard Digital February 14, 2017 06:17 UTC