Seven Reasons Why Kenya is the Next Global Frontier for Business and Investment

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A group of key business leaders in Kenya who individually or work for corporations which believed in the country enough to invest in it have taken the time out to explain why Kenya is a business hub that is ripe for investment:

 

Kenya has pro-business regulations

Kenya has made it easier for businesses to operate within its borders by collapsing the handful of fees previously required to set up in the country collapsed into one all-inclusive fee of $100 to register a business in a process that only takes 24 hours, Adan Mohamed Kenya’s Cabinet Secretary of Trade, Industry and Trade notes.

The country also has an open door policy for investment that attracts investors buoyed by its world renowned safari and beach holiday destinations, according to Tourism Cabinet Secretary Najib Balala.

Kenya is the gateway into the wider East African market

Kenyan entrepreneur Dr. Chris Kirubu says he would invest in Kenya again, 10 times over as it gives investors access to one of the biggest markets in the world. The region boasts a market of 200 million people, the same size as Brazil, larger than Russia, Japan and Mexico.

Kenyan people drive business

Ahmed Rady, General Manager, Coca Cola East Africa Franchise says the highly-skilled, focused and hardworking Kenyan people drive the company’s business in the country. From bottling partners, distributors and wholesalers to suppliers and retail shop owners, Rady adds that there is an opportunity for growth at every level.

Kenyans are go-getters, they are not just consumers. “We are creators, we are producers, we are manufacturers,” adds James Mworia, Group CEO and MD, Centum Investment Company Limited.

Kenya has a growing middle-class

Barclays Bank of Kenya CEO and MD Jeremy Awori says the country has a highly bankable population and a level credit that has been significantly growing over the past few years.

Kenya’s middle-class has an equally growing spending power if the numerous mall development projects both newly opened and in the pipeline are anything to go by. The LC Waikiki outlet at Kirubi’s latest investment, the Two Rivers Mall Nairobi was the best performing store over 750 stores worldwide in Easter 2017.

Kenya leverages technology to revolutionize business

Over 60 per cent of the country’s population is made up of millennials who are not afraid of technology, highlights Charles Murito, Country Manager, Kenya Google. Its leading IT infrastructure is evidenced by the growing number of world-class start-ups from the country.

Terming Kenya as the country with the most potential in the continent, Safaricom CEO says Kenya has been using technology to revolutionize technology for a while. The company’s groundbreaking mobile money innovation M-Pesa which turned a decade old in 2017 currently moves $10 million daily, meaning that everyone with a phone has the power to grow the economy.

The MD of Oracle Kenya Hub, Corine Mbiakectha Nana confidently says that Kenya is the smartest country in Africa as citizens are driving growth through technological advancements and the country is the green field in innovation in the digital transformation space.

Kenya is experiencing rapid growth in infrastructural development 

Simba Corp’s CEO Adil Popat attributes the immense opportunities available to the changed landscape in Kenya occasioned by its overall infrastructural development; in roads, the new Standard Gauge Railway, in real estate and thermal energy.

Kenya’s economy is diversified

Mohamed says the diversification of Kenya’s economy is its single biggest strength. From manufacturing to small and micro enterprises which make up 99 percent of its nearly two million businesses; to agriculture- the country is the largest exporter of flowers to Europe, these and other several diverse sectors individually make significant contributions to Kenya’s GDP.

 

Adapted from the Future Is Kenya Film

 

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