Kenya

About Kenya

The Republic of Kenya is an East African country located alongside the Indian Ocean. Kenya is bordered by Somaliato the northeast, Ethiopiato the north, Sudanto the northwest, Ugandato the west and Tanzaniato the south.

Kenya is the leading economy in East Africa and has a well-developed business infrastructure. Economic expansion is fairly broad and is built on a stable macro-environment fostered by the Government of Kenya. By African standards, Kenya has a substantial and robust private sector. The domestic private sector has been concentrated in food-related manufacturing for both the domestic and regional markets and a significant tourism industry for which it is well known.

Key Economic Data for Kenya:

Population: 43 million

GDP Growth in 2012: 4.3% (2011: 4.4%)

Average Inflation in 2012: 9.3%

Main export market (% 2011): Africa 47%

Government Budget: In Deficit

Exports in 2011: US$5.4 Bil (2010: US$4.4 Bil)

Economic Structure % of GDP (2011): Agriculture & Forestry (24%), Wholesale/Retail (10.6%)

(Source: Publicly available data, World Bank, Kenyan National Bureau of Statistics)

The Government of Kenya has undertaken a number of reforms to create an enabling environment for both foreign and domestic investment. Kenya Vision 2030 is the country’s new development blueprint and aims to transform Kenya into a globally competitive and prosperous nation experiencing high quality of life by the year 2030. Three key focuses of the strategy include Economic, Social and Political objectives - achieving sustained economic growth of 10% per annum, developing a just and cohesive society enjoying equitable social development, and evolving an issue-based, people centred, result oriented and accountable political culture. A series of five year plans have been detailed with considerable emphasis on the encouragement of investment, in order to successfully achieve their Vision by 2030.

Kenya is well recognised for its large pool of well-educated professionals, fluent in English and highly trained in various fields. Kenya holds the distinction of having the highest number of university and college educated English speaking professionals in East Africa.

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Established Infrastructure

Being the commercial and logistical hub of East Africa has attracted a diverse range of international firms to the area.

Nairobi, the capital city of Kenya, is one of the primary communication and financial centres boasting the best transport, telecommunication and services infrastructure in East Africa. The country is well linked by air, land and sea to its trading partners around the world. The Jomo Kenyatta International Airport in Nairobi is the region’s air transport hub, offering regular connections to the world’s financial capitals.

The country is served by a network of major roads, connecting the major commercial cities of Nairobi, Mombasa and Dar-es Salaam and the Trans-Africa Highway connecting all the East African countries.

Mombasa is Kenya’s primary seaport, linking Kenya and its landlocked neighbouring countries to the world’s major ports. More than 200 vessels depart Mombasa every week destined for the major port cities in Europe, North and South America, Asia, Middle East, Australia and the rest of Africa.

Mining Potential

Mining currently accounts for less than 1% of GDP and Kenya lags behind mining economy neighbours such as Tanzania and Uganda, with whom it shares a number of known mineral belts. As a result, Kenya is considered to have significant growth potential in the mining sector. The Government of Kenya, which regards the development of a robust mining industry as a priority, is significantly looking to the Australian mining industry as a model.