A steadily Growing Economy
Kenya’s strong economic footprint as the leading economy in East and Central Africa as well as its strategic location as a regional financial, communication and transport hub provide confidence to investors. Kenya's economy has been steadily growing over the last decade with the exception of the year 2020. The country’s GDP growth has been at an average of 5.5% over the last 10 years.The key sectors of the economy include agriculture, manufacturing, real estate and services. Although agriculture remains the mainstay of the economy, contributing about 53 percent of GDP, manufacturing contributes 10 percent and has been rising significantly over the years as the second-largest contributor to GDP
ease of doing Business
In 2019 Kenya’s ranking in the World Bank’s Ease of Doing Business (EODB) index improved positioning the country as the 56th most competitive economy to do business globally, and the
most competitive in Africa
Notable Startups and Innovations
Gearbox, a high-mix low-flow electronics manufacturer in Nairobi, runs a state-of-the-art surface-mount assembly line and in November 2022 began manufacturing Raspberry Pi’s Pico product for the African market. Gearbox’s production quality meets or exceeds that of Raspberry Pi’s other production sites in Wales and in Japan, producing a first pass yield of 99.6%.
– Semiconductor Technologies Limited (STL), a U.S.-owned semiconductor manufacturing and nanotechnology company domiciled in Kenya, is growing rapidly, and has hired more than 80 Kenyan engineers in the past two years.
– Kenya’s Revital Healthcare is one of the largest manufacturers of medical products in Africa, producing 48 devices and exporting to 28 countries.
– Isuzu’s East Africa assembly plant has been operating in Nairobi since 1977, selling more than 90,000 units with over 15 models.
as written by Ambassador Meg Whitman