BUSINESS IN KENYA

FKE

Kenya is the most developed economy in Eastern Africa.  As of 2015 estimates, Kenya had a GDP of $69.977 billion making it the 72nd largest economy in the world. Per capita GDP was estimated at $1,587. The country is also the economic, commercial, and logistical hub of the entire region.  Kenya’s population is estimated at 41 million with a large number of well educated English speaking and multi-lingual professionals, and a strong entrepreneurial tradition.  It is also a very ‘young’ country with almost 70% of the population under the age of 35. Kenya's strengths include its human resources, natural assets, and strategic location.  

The agricultural sector is the largest employer in Kenya, contributing 23.4% of GDP.  The country’s major exports are tea, coffee, cut flowers, and vegetables. Kenya is the world’s leading exporter of black tea and tea is one of Kenya’s top foreign exchange earners.

Kenya enjoys an extensive transportation infrastructure.  Nairobi is the undisputed transportation hub of Eastern and Central Africa and the largest city between Cairo and Johannesburg.  The Port of Mombasa is the most important deep-water port in the region, supplying the shipping needs of more than a dozen countries.

Kenya's financial and manufacturing industries are the most sophisticated in Eastern Africa.  Kenya’s tourism industry is one of the most successful in the world and the second largest source of foreign revenue. Kenya also is a potentially important source of high-value mineral commodities such as titanium, and oil.  In March 2012, oil was discovered in Turkana by the British oil company Tullow and drilling as well as preparations for commercial exploitation are at an advanced stage.

Private sector-led economic growth has since the early 2000s, been Kenya’s Priority. The Government's business-friendly stance has rolled over into Vision 2030, which sets development benchmarks for a number of priority sectors. This has been complemented by the integration of the EAC and the establishment in 2005 of a customs union and a common market (2010).

Kenya is a member of COMESA with 19 countries, and 14 of which are in a Free Trade Area (FTA). Three regional economic blocks i.e. EAC, COMESA and SADC with a combined population of over 600 million people are currently developing a joint framework and roadmap towards a Free Trade Area by 2015.

Kenya has seen an upward trend in economic development with prospects looking up due to extensive economic reforms, a new constitution, and fundamental reforms in the three arms of government (executive, legislature and the judiciary).

The main sectors contributing to economic growth are building and construction, infrastructure development, manufacturing, transport and services, and tourism particularly from emerging markets; agriculture, and wholesale and retail.

RT @ioevoice: Annual #BusinessAfrica General Assembly takes place during the 108th Session of the International Labour Conference #ILO100.…
Watch: Kenya's Labour CS Hon Ukur Yatani as he addresses the 108th ILO conference in Geneva that is being chaired b… https://t.co/GfjnCpxgwv
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/GTvf4YdX32
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/MYAe91BpAe
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/04magCTsCU
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/wSZ8h5DDYK
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/YXgjS9WCsk
Watch the Centenary session of the 108th International Labour Conference as chaired by FKE's Executive Director, Ja… https://t.co/9Nh0HnWHeX
Kenya Labour CS Hon Ukur Yatani congratulated FKE's Executive Director Mrs. Jacqueline Mugo for her election to cha… https://t.co/GxoHuxvG3V
FKE Executive Director Ms Jacqueline Mugo chairing ILO session where SA President Cyril Ramaphosa gave a speech https://t.co/YXBku1Wxse
FKE Executive Director Ms Jacqueline Mugo chairing the ILO session in Geneva;- Cathc us live, @Jacquelinemugo2 https://t.co/DY01aszPHh
@ILO_Childlabour @Jacquelinemugo2 The director of the employers' federation of #Kenya @ Jacquelinemugo2 says that c… https://t.co/whdZtfp3GT
@ILO_Childlabour @Jacquelinemugo2 FKE Executive Director Ms Jacqueline Mugo in a discussion panel on Child Labour i… https://t.co/Z9CW5Y5LPH
@ILO_Childlabour Say No to child labour @FKEKenya ,@Jacquelinemugo2
Ms. Jacqueline Mugo @Jacquelinemugo2 speaking during the World's Day Against Child Labour (WDACL) at the panel disc… https://t.co/KTXiASPHnq
RT @MargaretOsure: "Child labour is a hidden phenomenon and thus must be addressed in the informal economy too" Mrs Jacqui Mugo #ILO100 @FK
RT @Tzoro1: I would like to take this opportunity to welcome our employer members to the #ILO100 and look forward to our #GeneralCouncil to…
Congratulations! https://t.co/qJUyeWmERT
Congratulations to our Executive Director, Jacqueline Mugo for being appointed the #Employers' Vice-President to th… https://t.co/2AAnBYqLFa
Eid Mubarak to all our Muslim brothers and sisters. https://t.co/PH0Q7Xf1wU
We wish all Kenyans a Happy 56th Madaraka Day. #MadarakaDay2019 https://t.co/4gMAfD9awl
We invite all our members to participate in the 3rd Employer of the Year Awards (EYA); launched on 23rd May 2019.… https://t.co/Ho6rqEoTXy
RT @TheStarKenya: The High Court extends the suspension on housing Levy fund until June 10, 2019 https://t.co/eLydwy4sAW
RT @ILO_EASTAFRICA: Mr @aggrey_ndombi from the Better Utilization of Skills for Youth #BUSY Project ILO introducing survey done by @FKEKeny
Thank you to our Guest Speakers, H.E. Ms. Elin Bergithe Rognlie, Norwegian Ambassador to Kenya and Mr. Wellington… https://t.co/I8wTofKxH9