Economic Overview

The Kenyan economy is the largest in East Africa. Considerable growth in the past few years has been driven by several key factors. Kenya has the advantage of: a well-educated labour force, Mombasa Port that serves countries in the East Africa and Central Africa interior, and above all, a government that is committed to implementing business reforms.

Kenya's agricultural sector remains the most important contributor to GDP. High quality cut flowers remain the leading exports of Kenya in the Horticultural sector. Kenya is part of the East African Community (EAC). Among other members are Tanzania, Uganda, Rwanda and Burundi. The EAC is working toward a closer integration of trade, which will have a positive impact for Kenya's economy. Kenya is also one of the 20 members of COMESA, the Common Market for East and Southern Africa, opening up the way for trade for nearly 400 million.

National Accounts

1 EUR = 101.192 KES 2003 2004 2005 2006
GDP at market prices
GDP Growth Rates
3.0
4.9
5.8
6.1
GDP Current Prices [KSH Billion]
1,136.30
1,282.50
1,415.20
1,642.40
GDP Constant [2001] Prices [KSH Billion]
1,056.50
1,107.70
1,172.10
1,244.45
Expenditure Category
Government Final Consumption [KSH Billion]
205.1
226.0
242.4
267.1
Private Final Consumption [KSH Billion]
875.2
965.5
1,077.10
1,219.70
Gross Fixed Capital Formation
179.3
206.6
263.10
309.40
GDP Per Capita
At Current Prices
34,286
37,655
40,489
45,307
At Constant [2001] Prices [KSH]
31,940
31,877
33,350
34,435
Balance of Payments
Current Account Balance [KSH Billion]
11.1
-28.0
-37.4
 
Invisible Balance [KSH Billion]
97.9
101.1
126.4
197.0
Merchandise Trade Balance [KSH Billion]
-86.8
-129.0
163.8
270.4

Source: Central Bureau of Statistics (CBS)

Vision 2030

In October 2006, the Kenyan government published vision 2030 with a focus to Transforming National Development. This is an ambitious long-term strategy that will surpass the Economic Recovery Strategy for Wealth and Employment Creation (ERSWEC), which expired in 2007. Vision 2030 aims to turn Kenya into an economic inspiration by increasing income per head to $3000, achieving annual economic growth of 10 percent, and transforming the country into an efficient modern democracy. Vision 2030 will be steered by the National Economic and Social Council (NESC), which is chaired by the President and the CEOs of top businesses and other organizations. The Council is further reinforced by Personalities of high profile like Baroness Linda Chalker of the United Kingdom.

Important multinationals active in Kenya

Many top companies doing business in Kenya are from the Netherlands, i.e.: The Unilever, Phillips, and many flower growers in Naivasha. Also present are Bata; the global shoe company headquartered in Canada, and Beiersdorf, the German chemical manufacturer and producer of Nivea skincare products. Other multinationals operating in Kenya include British American Tobacco (BAT), food manufacturer Cadbury and Toyota Tsusho Corporation.

Reform Programmes

President Kibaki's reform agenda includes plans to privatize most Parastetals and create a more conducive environment for investment, both domestic and foreign.

The Kenya Investment Authority (KIA) has shortened the process of investing in Kenya. The investment process has become an easy and transparent process today, due to the reform programs. Consulting KIA agents is the first in a series of steps towards investing in Kenya. Further information on KIA's investment assistance and information can be found at Kenyan embassies and high commissions around the world as well their website www.investmentkenya.com

Important Notice!!

The Kenyan Embassy in the Hague wishes to notify all e-Visa applicants of a scam e-Visa website namely http://www.kenya-evisa-online.com. This is a commercial website that is similar to our official Government e-visa website and is not working for the Government of Kenya.

In this portal e-Visa applicants are charged between US $ 100 – US $ 120 as opposed to the US $ 51 charged by the Government of Kenya.

Read more on the link below;

FRAUDULENT e-VISA APPLICATION WEBSITE

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