Guest Post: Gravis Insights Australia
Kenya has been encountering consistent development for a long while now. The financial figure has been sure with the World Bank anticipating a development rate of 6.6 percent this year and 7 percent come 2017. This force is being fueled by enormous interests in framework and employments, ventures to enhance the business atmosphere, and a lift in fares.
Kenya has one of the best vehicles to promote new investment into Kenya called KenInvest which is the branding for the Kenyan Investment Corporation. Here are 9 macro-reasons to invest:
- Tax Treaties and Investment Promotion and Protection Agreements: Kenya is a signatory to a large and growing number of tax treaties and investment promotion and protection Agreements such as the Multilateral Trade System (MTS) ACP Cotonou Agreement, and the Africa Growth and Opportunities Act. This allows exports from Kenya to enjoy preferential access to world markets under a number of special access and duty reduction programmes.
- Stability: Since independence, Kenya has maintained remarkable stability despite changes in its political system Since the re-emergence of multiparty democracy and promulgation of a new constitution in 2011, Kenyans have enjoyed an increased degree of freedom.
- Regulatory Reforms: Kenya is making efforts to lower the cost of doing business by conducting extensive business regulatory reforms intended to substantially reduce the number of licensing requirements and to make the licensing regimes more simple and transparent and focused on legitimate regulatory purposes.
- Access to Large pool of Highly Educated and Skilled Work Force: Kenya prides itself in its large pool of highly educated, skilled and sought after work force in Africa, trained from within the country and in institutions in around the world.
- Strategic Location: As the leading economy in East Africa, Kenyas’ strategic location and its well developed business infrastructure make it a natural choice for investors and many international firms have made it their regional hub. This grants investors access to the larger East African Community and regional markets with access to over 385 million consumers. Nairobi is also a major transport Hub in East Africa with Connections from Jomo Kenyatta International Airport to Major Destinations around the world. All these are coupled with a convenient Time zone of (GMT +3).
- Highly Developed Social and Physical Infrastructure: Kenya affords a pleasant and quality standard of living with its spectacular and diverse natural resources. Ranging from wildlife and sceneries. Including the world famous Maasai Mara. The country also boasts of high quality social amenities such as restaurants, hospitals and Entertainment spots. A good reason why the country has the highest number of Expatriates living and working in Kenya.
- Fully Liberalised Economy: Kenya fully liberalised its economy by removing all obstacles that previously hampered the free flow of trade and private investment. These includes exchange controls, import and export licensing, as well as restrictions on remittances of profits and dividends.
- Preferential Market Access: Kenya is signatory to a number of multilateral and bilateral trade agreements as part of its trade policy. Kenya is a member of the World Trade Organization (WTO) making her products access more than 90% of world markets at Most Favoured Nation (MFN) treatment. In addition, Kenya is member to several trade arrangements and beneficiary to trade-enhancing schemes that include the Africa Growth and opportunity act (AGOA); ACP-EU Trade Agreement and Common Market of Eastern and Southern Africa (COMESA).
- Well Established and Vocal Private Sector: Kenya has a very substantial private sector, including a significant number of foreign investors and is touted as one of the most resilient in the world. The country has always been a market economy. Key players in voicing private-sector concerns include, The Kenya Private Sector Alliance (KEPSA), Federation of Kenya Employers (FKE) and The Kenya Association of Manufacturers (KAM). Futhermore, the government frequently conducts regular policy dialogue with private sector players through the Prime Minister Round Tables.
Here are a few parts that could give beneficial venture openings in Kenya:
Agriculture: Farming is the backbone of the economy, giving vocation to around 75 for each penny of the populace. There is impressive degree for broadening and extension of the horticultural division through quickened nourishment trim generation, handling and advertising. There are additionally open doors for development in innovative foundation, for example, bundling, hoarding, and transportation. Escalated water system and extra esteem included processing are fine zones for profitable investment.
Manufacturing: Kenya has a very much created development industry. With growth in populace, openings exist in the development of private, business and mechanical structures, including pre-assembled minimal effort lodging. Broad open doors for venture exist especially in the territory of redesigning ghettos and casual settlements, urban restoration, development of center and low pay lodging, fabricate and supply of building materials and parts.
Producing part is a territory where speculation openings exist. The division assumes a vital part in increasing the value of horticultural yield. An extensive variety of chances for immediate and joint-wander ventures exist in the assembling division, including agro-preparing, fabricate of articles of clothing, gathering of car parts and hardware, plastics, paper, chemicals, pharmaceuticals, metal and building items for both household and fare markets.
Innovation and IT: Kenya has completely grasped the open doors managed by innovation. The bubbly start-up scene is something to be appreciated. This has been floated by great government approaches, with the extent of the neighborhood ICT advertise now is evaluated at around $500 million. The National ICT Masterplan plans to improve Kenya’s aggressiveness through usage of its assets in Business Process Outsourcing and fortifying its abilities to meet future innovative difficulties. The 2030 vision for BPO is for the nation to end up distinctly the top BPO goal in Africa.
Tourism: Kenya at present brags the most noteworthy impart of populace to access to budgetary administrations in Sub-Saharan Africa (more than 70 percent). This is to a great extent on account of the well-known portable cash exchange benefit M-Pesa. Konza City, a cutting edge techno polis is a venture by the Kenyan government which guarantees to drive considerably more development in the ICT division.