Kenya, officially the Republic of Kenya (Swahili: Jamhuri ya Kenya), is a country in Eastern Africa whose capital city is Nairobi. At 580,367 square kilometers (224,081 sq. mi), Kenya lies astride the equator, extending from the Indian Ocean in the east to Uganda in the west and from the United Republic of Tanzania in the south.
Kenya is, a country in East Africa famed for its scenic landscapes and vast wildlife preserves. It is bordered to the north by South Sudan and Ethiopia, with a population of 53, 77 million, and the languages used in the country are Swahili, and English amongst the different tribes in the country.
William Kipchirchir Samoei Arap Ruto CGH has been Kenya’s fifth president since September 13, 2022. From 2013 to 2022, he was Kenya’s first elected deputy president.
The Economy of Kenya is a market-based economy with a few state enterprises. Major industries include agriculture, forestry, fishing, mining, and manufacturing.
Kenya’s economy has been hurt by the COVID–19 pandemic. In 2020, GDP growth is expected to decelerate to 1.4% from 5.4% in 2019. From 2015 to 2019, Kenya’s economy achieved broad-based growth averaging 4.7% per year, significantly reducing poverty
The Kenyan economy, East Africa’s largest, has experienced considerable growth in the past few years, driven by several key factors. The Companies Registration Office is the central repository of public statutory information on Kenyan companies and business names. All company and business registrations (sole proprietorship and partnerships) are being done through the citizen online platform but for limited liability. Companies registered in Kenya over the last five years have more than doubled, signaling an improving business environment
The country’s largest companies that generate a lot of income in the country include KCB Group with almost revenue of $ 1,214 billion which has enabled the development of the country thus creating employment opportunities for the youth in the country hence fighting crime rates amongst the childhood in the country at large.
Kenya is a very youthful country. Those aged between 18 and 35 make up Approximately 75% of Kenya’s population, unfortunately, a large percentage of this population is unemployed and feel marginalized in terms of access to services. As of 2020, Kenya’s population included over 12.7 million teenagers.
Kenya Vision 2030 is the long-term development blueprint for the country and is consulted in all provinces in Kenya before the document was finalized. The Kenya Vision aims to transform Kenya into a new call and take part in creating a long-term development blueprint for the country through different sectors within Infrastructure. Science, Technology, and Innovation. The Vision is anchored on three key pillars: economic; social; and political governance.
Business opportunities in Kenya
Kenya has a wide range of sectors with ready-to-be-accessed investment opportunities, including but not limited to, Agriculture and Agribusiness, manufacturing, tourism, infrastructure development, energy, information Communications Technology, and Financial Services.
Major companies and businesses in Kenya
- Safaricom
- Equity Group Holdings
- KCB Group
- East African Breweries
- Co-operative Bank of Kenya
- NCBA Group
- Absa Bank Kenya
- I&M Holdings
- Standard Chartered Bank Kenya
- British American Tobacco Kenya