Kenya is in East Africa, bordered by Ethiopia to the north, Somalia to the northeast, Tanzania to the south, Uganda to the west, and Sudan to the northwest, with the Indian Ocean running along the southeast border. The capital city is Nairobi. The country is named after Mount Kenya, a very significant landmark and the second among the highest mountain peaks of Africa.
The country’s population is estimated at 38 million. A census was carried out in August 2009 and the results are expected later this year. For the potential investor, some of the key facts about Kenya relate to the economy…Although the Kenya economy is classified as a developing one, it is of the most developed in Africa. There are 2 main airports in Kenya. Jomo Kenyatta International Airport, the country’s busiest, is located on the outskirts of the capital, Nairobi while Moi International Airport is located in Mombasa, the country’s most popular tourist destination.
The major sectors are agriculture, manufacturing, tourism, telecommunication and energy. Since 1993 the government of Kenya has implemented a program of economic liberalization and reform. Steps have included the removal of import licensing and price controls removal of foreign exchange controls fiscal and monetary restraint and reduction of the public sector through privatizing publicly owned companies and downsizing the civil service. The opening of borders with the east African community has led to cross border trade. The Kenya Investment Authority (Kenya Investment Authority) Government agency set up to provide you with professional assistance, Facilitation, information and advice if you are a local or a foreign investor seeking to establish a new investment or expand your existing investments in Kenya.
In 2007 the great lake region of Kenya, Uganda, and Tanzania had GDP growth rate on par with Asia’s two power houses. More surprising is that, much of this growth is driven not by sale of raw materials but by burgeoning domestic market. In the last four years, the surge in private consumption of goods and services has continued to blossom. Telecommunications services namely use of cellphone, and internet has made trade with Kenya readily tenable. Banking has grown at faster rate than never witnessed before and so is the same with Real estate. There has been increased demand coming out china and technological innovations abroad that has spurred local productivity and growth like the multibillion dollar fiber optic line that is being laid out.