Vision 2030 | Important multinationals active in Kenya | Reform programmes

Economic Overview

The Kenyan economy is the largest in East Africa. Considerable growth in the past few years has been driven by several key factors. Kenya has the advantage of: a well-educated labour force, Mombasa Port that serves countries in the East Africa and Central Africa interior, and above all, a government that is committed to implementing business reforms.

Kenya's agricultural sector remains the most important contributor to GDP. High quality cut flowers remain the leading exports of Kenya in the Horticultural sector. Kenya is part of the East African Community (EAC). Among other members are Tanzania, Uganda, Rwanda and Burundi. The EAC is working toward a closer integration of trade, which will have a positive impact for Kenya's economy. Kenya is also one of the 20 members of COMESA, the Common Market for East and Southern Africa, opening up the way for trade for nearly 400 million

National Accounts

Source: Central Bureau of Statistics (CBS)

Vision 2030

In October 2006, the Kenyan government published vision 2030 with a focus to Transforming National Development. This is an ambitious long-term strategy that will surpass the Economic Recovery Strategy for Wealth and Employment Creation (ERSWEC), which expired in 2007. Vision 2030 aims to turn Kenya into an economic inspiration by increasing income per head to $3000, achieving annual economic growth of 10 percent, and transforming the country into an efficient modern democracy. Vision 2030 will be steered by the National Economic and Social Council (NESC), which is chaired by the President and the CEOs of top businesses and other organizations. The Council is further reinforced by Personalities of high profile like Baroness Linda Chalker of the United Kingdom.

Important multinationals active in Kenya

Many top companies doing business in Kenya are from the Netherlands, i.e.: The Unilever, Phillips, and many flower growers in Naivasha. Also present are Bata; the global shoe company headquartered in Canada, and Beiersdorf, the German chemical manufacturer and producer of Nivea skincare products. Other multinationals operating in Kenya include British American Tobacco (BAT), food manufacturer Cadbury and Toyota Tsusho Corporation.

Reform Programmes

President Kibaki's reform agenda includes plans to privatize most Parastetals and create a more conducive environment for investment, both domestic and foreign.

The Kenya Investment Authority (KIA) has shortened the process of investing in Kenya. The investment process has become an easy and transparent process today, due to the reform programs. Consulting KIA agents is the first in a series of steps towards investing in Kenya. Further information on KIA's investment assistance and information can be found at Kenyan embassies and high commissions around the world as well their website www.investmentkenya.com