Why You Should Invest In Africa's Fastest-Growing Economy
Kenya is the dominant economy in the East Africa Community, contributing to more than 40% to the region’s GDP. Kenya’s geographical location makes the country ideal for strategic partnerships aimed at improving regional and global market share. If you are looking to invest in a low risk investment environment with vast growth opportunities, Kenya should be a key investment destination for your business.
Top reasons to invest:
- Kenya has GDP of $63bn, 45 million population and an annual growth rate of 5.7%.
- Kenya’s Industrial Transformation Plan is targeting a 15% manufacturing contribution of GDP.
- Removal of duty on capital equipment and other raw materials has opened up the market to suppliers of machinery & tools.
- East Africa: Regional Business Council (EABC) has signed an agreement with the East African Manufacturers Business Membership Organisations that will help drive a regional industrialisation agenda
- Kenya is the highest trading country in the region making up 37% of trades
- International companies that have their continental headquarters that are in Kenya are: Google, IBM, Toyota, CocaCola, Standard Chartered, Microsoft
- Policies have been created to encourage greater intra-African trade enabling products and services to be sourced competitively from other African countries.
- Kenya is the 3rd fastest growing economy in the world and ranks of the 2nd most formalised in Africa.
- Kenya is a member to several trade arrangements and beneficiary to trade- enhancing schemes that include the Africa Growth and Opportunity Act (AGOA), World Trade Organisation and EAC-EU Trade Agreement.