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Kenya

Country Summarykenya.JPG

On September 30, 2014, Kenya achieved lower middle-income status effectively joining the ranks of middle-income countries, sixteen years ahead of its Vision 2030 goals.  

Kenya is the ninth largest African country with a GDP of $55.2 billion. A World Bank Group analysis attributes Kenya’s growth to aggregate demand fueled by strong consumption and investment.

According to the World Bank’s Enterprise Surveys 2013 data, the top three business environment constraints experienced by private sector firms in Kenya are practices of the informal sector, corruption, and electricity.

According to Heritage Foundation’s 2015 Index of Economic Freedom Kenya’s economic score is down 1.5 points from last year to 55.6 making its economy the 122 freest (out of 186) in the 2015 index. There was an improvement in freedom from corruption outweighed by declines in five of the 10 economic freedoms, including trade freedom, business freedom and the control of government spending. Kenya is ranked 23rd out of 46 countries in sub-Saharan Africa.

United Nations Conference on Trade and Development STATS.

Kenya County Profiles

Related Blogs and Resources

Kenyan farmers celebrate with further rise in global coffee prices

Published on April 25, 2017
The initiatives being pursued have therefore boosted farmers’ morale to increase production and quality in order to earn premium prices in the global market. The industry for the last four production years has witnessed increased production, area under coffee and high prices as well. According to the Economic Survey 2017 launched recently, the price of a kilogram for unroasted coffee for the last four years at the international market has increased by almost 30 percent to reach 4.7 U.S. dollars in 2016 compared to 3.3 dollars earned in 2013 production year. Total coffee earnings increased to 213 million dollars in 2016 from 205 million dollars in 2015 registering a 3.9 percent increase. Currently a team of Kenyan coffee value chain players under the leadership of agriculture cabinet secretary Willy Bett are in Seattle, United States for an exhibition where Kenya is the portrait country. This is expected to enhance the exposure of Kenyan coffee. Read more. Source | Coast Week
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Nairobi ranked as leading destination for multinationals

Published on April 19, 2017
Nairobi has been named as one of the leading regional destinations for companies establishing international headquarters. Kenya’s capital appears on the Fortune 500 list alongside Dubai, Johannesburg, Casablanca, Lagos and Cairo, as one of the destinations with the highest appeal. According to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East, Nairobi is the leading destination for Fast Moving Consumer Goods (FMCG) companies. Read more. Source | Daily Nation
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Casablanca and Nairobi rank as leading destinations for Fortune 500 companies establishing international headquarters

Published on April 19, 2017
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, according to a new report released by Infomineo (www.Infomineo.com), a global business research company specialising in Africa and the Middle East. The report focuses on multinationals looking at entering, or already present, in the Middle East and Africa region. Overall, there was a 17% increase in the number of Fortune 500 companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa. The Infomineo analysis includes the regional footprint of multinationals in the MEA region, the most commonly chosen cities, and the factors which influence the selection of a region, country and city - each element revealing the dynamic growth patterns within the region and a clear trend of Fortune 500 companies establishing presence in MEA. Read more. Source | Africa Newsroom
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Leather and textile sectors winners in this years’ budget

Published on April 12, 2017
An additional Ksh. 450 Million has been set aside to revamp of Rivertex East Africa, which was once Kenya’s textile powerhouse. This is good news for local manufacturers of textile because it focuses the growth of the sector to meet the local demand for affordable and quality clothing. The 2017- 2018 budget has also proposed other tax measures aimed at growing local industry and enhancing our competitiveness as a country. To cushion the local manufacturers of pesticides imput the government has proposed to exempt this products from VAT, and to include I6 % tax on all pest control imported products. Read more. Source | East African Business Times
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Kenyan seeks to grow taste for purple tea in the US

Published on April 12, 2017
Kenya’s purple tea received a major boost last week after it debuted at a major US trade fair meant to increase sales of the beverage in the global market. Kenya has recently become a major source of the tea variety and one of the few countries that grow it. But lack of awareness among potential consumers has kept sales growth in check. Mr Martin Kabaki, a US-based Kenyan and the chief executive of Kenya Purple Tea, LLC is changing that with direct contracting of Kenyan growers and finding markets for the produce in the US. Read more. Source | Daily Nation
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Kenyan diaspora top senders of mobile to mobile remittances - WorldRemit report

Published on April 03, 2017
The Kenyan diaspora is the biggest sender of digital remittances to mobile accounts, according to a new report by WorldRemit, a global online money transfer service provider. The report indicates that transfers to mobile money accounts make up 93 per cent of WorldRemit transactions to Kenya presently, a development that shows that Kenyans continue to be early adopters of innovative technology, even when abroad. Mobile money has played a key role in the growth of WorldRemit’s Kenyan customer base, attracted by the low price, speed and convenience of sending instant remittances from the app or website directly to a mobile phone in Kenya. Read more. Source | New Times
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Kenyans abroad top mobile money remittances

Published on March 29, 2017
Kenyans living abroad are the largest senders of remittances to mobile money accounts, a new study shows. WorldRemit, an online remittance service that allows subscribers to send money using computers, smartphones or tablets said: “Transfers to mobile money accounts make up 93 per cent of WorldRemit transactions to Kenya now — showing that Kenyans continue to be early adopters of innovative technology, even when abroad.” The revelation comes as the pioneer mobile money service M-Pesa celebrates 10 years since launch on March 6, 2007. “Kenya is famed for leading Africa’s digital transformation, and today its Kenyans abroad who are at the forefront of digitising international money transfers,’’ WorldRemit founder and CEO Ismail Ahmed said. Read more. Source | Business Daily
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Local garment manufacturers plan three-day mega sale in Nairobi

Published on March 29, 2017
Local clothing manufacturers plan to have a "mega sale" of their products this week in Nairobi.The event has been dubbed the first-ever super sale of local clothing brands in the country. Going under the hashtag #BuyKenyaSuperSale on Twitter, the sale will run for three days starting Wednesday at the Kenyatta International Conference Centre, (KICC). Prices will range from Sh50 to Sh600.The sale has been organised by the Ministry of Industry, Trade and Cooperatives to promote local brands. Read more. Source | Daily Nation
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