Kenya is a land of opportunity, a country that is brimming with potential for businesses looking to expand their reach. European companies looking to invest in Africa will find that Kenya offers a wealth of potential and opportunities, making it an ideal destination for those seeking to tap into one of the continent’s fastest-growing economies.
Benefits to Investing in Kenya
One of the biggest benefits of investing in Kenya is the country’s strategic location. Situated at the crossroads of Africa, Europe, and Asia, Kenya provides easy access to markets across the continent and beyond. The country is a major transport hub, with excellent air, road, and sea links, making it an ideal getaway to Africa’s vast consumer markets.
Kenya has a strong economic foundation. With the country being one of Africa’s leading economies, with an average growth rate of 5.5% annually. This growth has been driven by a range of factors, including an expanding middle class, a young and dynamic population, and a thriving business environment.
In addition to these factors, Kenya also offers a range of investment opportunities in key sectors such as agriculture, manufacturing, energy and infrastructure. The country is home to some of the world’s largest tea and flower exporters, as well as burgeoning technology sector that is attracting significant interest from global investors.
Foreign Investment Incentives
The country’s government encourages foreign investment by providing a range of incentives and policies designed to attract foreign investment. These include tax breaks, streamlined bureaucratic processes, and support for companies looking to set up operations in the country.
The country is committed to creating and enabling a proactive environment for businesses to thrive, and is investing heavily in infrastructure projects such as railways, roads, and ports to support the economic growth.
Potential for Growth
The European Union acknowledges the country’s growth potential and pledged in February 2023 that it would increase its investments in Kenya by hundreds of millions of dollars. The EU and Kenya are in advanced negotiations on an interim Economic Partnership Agreement (iEPA). This agreement will enhance trade and investment opportunities and help boost Kenya’s economic growth and job creation. The agreement will give duty-free quota-free access to the EU market for all Kenyan exports and partially open the Kenyan market, including agricultural and fishery products.
How IBN Immigration Solutions Can Help You
At IBN Immigration Solutions, we understand the challenges and opportunities that come with investing in Kenya. Our team of immigration experts help European companies navigate the regulatory landscape and make the most out of the country’s business opportunities. We are committed to helping our clients succeed in Kenya and beyond.
Written by Thomas Olie, IBN Immigration Solutions Marketing Intern