Advantages of doing business in Kenya

Kenya is the economic, financial and transport hub of East Africa. Kenya's economy provides numerous investment opportunities for business, demonstrating dynamic growth and sustainability.

Economy of Kenya — largest in East Africa and has consistently posted impressive GDP growth rates over the past decade. The country's strategic geographic location, well-developed infrastructure and growing middle class have further contributed to its economic prosperity.

On June 10, 2008, the Kenya National Development Plan 2030 was launched with the overall goal of creating a globally competitive and prosperous nation with a high quality of life by 2030, namely making Kenya a newly industrializing middle-income country , providing a high quality of life to all its citizens by 2030 in a clean and safe environment. To date, significant progress has been made towards achieving Vision 2030. The economic pillar identifies several priority sectors that will transform Kenya. These include: tourism, agriculture and livestock, wholesale and retail trade, manufacturing, financial services, business process offshoring and IT-enabled services.

There are several compelling reasons that make Kenya an attractive destination for foreign investment. These advantages provide opportunities for international competitiveness, as well as an enabling environment for companies that want to expand or establish a presence in the region, entering new foreign markets.

1. Favorable economic policies The Government of Kenya has implemented significant economic liberalization and reforms to facilitate trade and investment. They abolished price, interest and exchange controls, as well as some import licenses. In addition, prudent fiscal and financial policies, improved economic management and privatization of state-owned enterprises have ensured macroeconomic stability.
2. Good legal environment. Kenya's political system is a multi-party democracy, with laws administered by the legislative branch of government. The Constitution protects private property rights and protects against expropriation of property without compensation. The country participates in an international agreement on the protection of investments — Multilateral Investment Guarantee Agency (MIGA) and is a member of the International Council for the Settlement of Investment Disputes (ICSID), which provides additional legal support to investors.
3. Favourable strategic location and access to international markets Kenya, located as the gateway to East and Central Africa, benefits from its proximity to the Indian Ocean, making it an ideal production and distribution base to serve markets Africa, Europe, the Middle East, South Asia, and other Indian Ocean islands. In addition, Kenya benefits from preferential trade agreements such as the African Growth and Opportunity Act (AGOA), the East African Community, and the Common Market for Eastern and Southern Africa (COMESA). ), African Caribbean and European Pacific Union (ACP). -EU) Economic Partnership Agreement (EPA) and Generalized System of Preferences (GSP) system.
4. Powerful private sector in the country. An important driver of Kenya's economy is its diverse and dynamic private sector, which includes small local enterprises, medium-sized businesses and multinational corporations. This huge business ecosystem provides a wide range of products and services for both domestic consumption and export, with readily available raw materials and professional services that meet stringent international standards.
5. A large and competent workforce Kenya boasts a workforce of over 15 million people who are well educated and proficient in English, making them highly adaptable. Investors can gain access to a qualified pool of professionals in various fields with a high level of knowledge at an affordable price policy.
6. Well-developed infrastructure. Kenya has invested significantly in international airports, an extensive network of roads and railways, a modern deep-sea port at Mombasa that can handle bulk and container cargo, an expanding energy sector, and advanced digital technologies and telecommunications
   networks. These factors position Kenya as the financial, service and transport hub of East and Central Africa.
7. Excellent quality of life The country offers investors and their families a good living and working experience with comfortable housing, shopping, education, healthcare and recreational facilities.
8. Easy to set up and register a company The Government of Kenya has made concerted efforts to simplify the process of registering a company in the country, simplifying the process of doing business and complying with Kenyan company laws, as well as the country's tax laws.