If Kenya’s elections continue to go this well, the country could see a major bump in growth

Since before dawn, millions of Kenyans began queueing at their polling places in order to vote in the country’s first national election since the country adopted a new constitution. It appears that many will wait until after dusk in order to cast their vote.

#Kenyaelections There are more than 14 million voters, more than 30,000 polling stations, more than 22,000 election observers #kenyadecides—
BBC Africa (@BBCAfrica) March 04, 2013

This is what democracy looks like. pinterest.com/pin/2406617923… #kenya #kot—
James Brownsell (@JamesBrownsell) March 04, 2013

Given the violence that marred the country’s last national election in 2007, killing more than 1,000, all eyes are on the polling places where it’s most likely to break out. There was an incident on the coast that happened before polls opened and a second where details remain sketchy. But this time around the elections appear to be otherwise peaceful.

“Millions of Kenyans Queuing Peacefully & Patiently” is not a good headline for you, International Media? #KenyaDecides—
Sunny Bindra (@sunnysunwords) March 04, 2013

'I was looting & burning for the president' a 30yr old voter tells me. 'Now there will only be little problem' #kenyadecides—
Daniel Howden (@howden_africa) March 04, 2013

There is a real sense in the air today of history being made #kenya #kot—
James Brownsell (@JamesBrownsell) March 04, 2013

All of which is good news for the economic powerhouse of East Africa.

'Kenya's on the verge of taking off' a bank manager tells me. With peaceful elections the economy will grow at over 5% #kenyadecides—
Daniel Howden (@howden_africa) March 04, 2013

If this #Kenya2013 election goes well/peacfully, many more are going to get very bullish on east Africa. @grant_masterson @howden_africa—
  (@ETMEconomics) March 04, 2013

Holding peaceful elections is clearly a point of pride for many Kenyans, who are determined not to let foreign journalists “get to file the story they came for.” Many are angry at CNN’s pre-election coverage, which focused on the potential for violence.

Lots of voters angry with CNN preelection coverage, keep having to tell people I don't work for them #KOT #kenyadecides—
Daniel Howden (@howden_africa) March 04, 2013

With all the foreign media attention on these elections, they are for many a referendum on the future of Kenya. The question is: Will Kenya regain its status as the most stable and economically progressive country in East Africa? Here’s Sven Richter, head of Africa and frontier markets at Renaissance Asset Managers, in advance of the elections:

These [election] risks, however, do not change our view of the fundamental investment case for the country – a fast-growing domestic economy driven by an expanding middle class and positive demographics (the working-age group accounts for half of the country’s population).