Kenya is now the 6th largest economy in Sub-Saharan Africa and home to 44 million people.
It is the regional hub for trade and finance in Eastern Africa and the natural entry point to the region. The country has a market-based economy with a liberalised foreign trade policy. There are positive prospects of economic growth predicted despite the challenging global environment from 5.9% in 2016, 6% has been forecast for 2017 with the prospect of 6.1% by 2018, according to the World Bank. Kenya has emerged as one of Africa’s key growth centres and is poised to become one of the fastest growing economies in East Africa, supported by lower energy costs and investment in infrastructure, agriculture and manufacturing.
Kenya officially became a lower-middle-income country in 2014 following a GDP recalculation exercise.
The World Bank’s 2017 ease of doing business report ranks Kenya 92nd out of 190 economies, while the World Economic Forum’s Global Competitiveness Index 2016-2017 places Kenya at 96th out of 138.
Kenya has the largest gross domestic product (GDP) economy in Southeast and Central Africa. Sectors attracting investment include oil and gas exploration, energy, banking, real estate, retailing, consumer goods manufacturing, vehicle assembly, agriculture and tourism. Investors are attracted by Kenya’s relatively diverse economy and pro-market policies, brisk growth in consumer spending and the country’s central role in the East African Community (EAC).
About the guides
The main objective of this Doing Business in Germany Guide is to provide you with basic knowledge about Kenya; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.
We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point.
This FREE guide is available in 4 formats:
Available on the iTunes App Store and Google play