Business & Trade Opportunities in Kenya
Kenya is world largest producer and leading exporter of black tea. The country is also ranked amongst the largest coffee producer in the World. Kenya is also lead exporter of Cut flowers to the European Union with the market share of about 35%. Fresh fruits and vegetables feature on the growing list of Exports. Kenya’s top ten export markets are Pakistan, Uganda, Tanzania, Netherlands, USA, United Kingdom,Democratic Republic of Congo, United Arab Emirates, South Sudan and Egypt. Kenya’s main exports are Horticulture, tea, petroleum product, textile and apparel, coffee, tobacco products, iron, steel products, Pharmaceutical products, Essential oil, articles of plastic, among others.
Kenya Pakistan Trade Relations
Relations between Kenya and Pakistan remain warm and cordial. Exports from Kenya to Pakistan have increased from USD 396.6 Million in 2016 to USD. 620.7 Millionin 2017. Imports from Pakistan to Kenya have continued to increase from USD 179.1 Million in 2016 to USD 247.1 Million in 2017.
Kenya’s main export to Pakistan is tea, which accounts for over 80% of the total exports. Other exports include hides & Skin, Onions, carbonates, sacks & bags and cut flowers. Pakistan’s major exports to Kenya include rice, wheat, cotton fabrics (Woven) and veterinary products.
Aside from tea, other high-potential export commodities from Kenya to Pakistan include coconuts, dry nuts, mangoes, fresh flowers and powdered milk.
Several factors underpin trade between the two countries, including a strong commitment from the two nations to grow their ties. This is driven mainly by the fact that bilateral relations have become a key cog in transforming the two economies.
Kenya Pakistan Trade Statistics
EXPORTS IN USD
IMPORTS IN USD
BALANCE OF TRADE IN USD
Why Invest in Kenya
Kenya has a number of tax treaties and incentives that are conducive for investors:
Investment Promotion and Protection Agreements
Exports from Kenya enjoy preferential access to world markets under a number of special access and duty reduction programmes. Kenya is signatory to various agreements aimed at enhancing trade amongst member states. These incentives fall under the following programmes:
Multilateral Trade System (MTS):
Kenya is a member of the World Trade Orgainisation (WTO).The WTO is the global trade rules making body which aims to promote rule based trading system amongst its membership. If you invest in Kenya you are assured of operating in a rules based and transparent business environment.
ACP/Cotonou Partnership Agreement:
Exports from Kenya entering the European Union are entitled to duty reductions and freedom from all quota restrictions. Trade preferences include duty-free entry of all industrial products as well as a wide range of agricultural products including beef, fish, dairy products, cereals, fresh and processed fruits and Vegetables. Investing in Kenya assures you of these benefits.
African Growth and Opportunity Act (AGOA): Kenya qualifies for duty free access to the United States of America (USA) market under the African Growth and Opportunity Act enacted by USA. Kenya’s major products that qualify for export under AGOA include textiles, apparels, handicrafts and many other products. Investors in Kenya are entitle to these incentives of accessing the USA market on a duty and quota free basis.
Generalised System of Preferences (GSP):
Under the Generalised System of Preferences, a wide range of Kenya’s manufactured products are entitled to preferential duty treatment in the United States of America, Japan, Canada, New Zealand, Australia, Switzerland, Norway, Sweden, Finland, Austria, and other European countries. In addition, no quantitative restrictions are applicable to Kenyan exports on any of the 3,000-plus items currently eligible for GSP treatment
Investment Protection Guarantee:
The constitution of Kenya guarantees protection of life and private property. The Foreign Investment Protection Act guarantees against expropriation of private property by government. Kenya is a signatory to and Member of the Multilateral Investment Guarantee Agency (MIGA) an affiliate of the World Bank which guarantee investors against loss of Investment to political problems in host countries Kenya is also signatory to International centre for Settlement of Investment Disputes which is a channel for settling disputes between foreign investors and host governments
Bilateral Trade Agreements:
Kenya has signed bilateral trade agreements with several countries around the world. Some of the countries are already members of existing schemes offering market access/duty reduction preferences as above. Some of the countries include the following:
1. Argentina 2. Bangladesh 3. Bulgaria 4. China 5. Comoros 6. Congo (DRC) 7. Djibouti 8. Egypt 9. Hungary 10. India
11. Iraq 12. Lesotho 13. Liberia 14. Netherlands 15. Nigeria 16. Pakistan 17. Poland 18. Romania 19. Russia
20. Rwanda 21. Somalia 22. South Korea 23. Swaziland 24. Tanzania 25. Thailand 26. Zambia 27. Zimbabwe
Agreements under Negotiations:
1. Belarus 2. Czech Republic 3. Ethiopia 4. Eritrea 5. Iran 6. Kazakhstann 7. Mauritius 8. Mozambique 9. South Africa
Procedures for Establishing a Business in Kenya:
Registration of a company in Kenya is done at the Registrar of companies. This could be:-
• A branch office of an overseas company, or
• A locally incorporated company Registration could also be done under the Business Names Act.
Approval and Licensing Procedures of New Investments:
• The Kenya Investment Authority (KIA) will process and grant approvals of new investment, once proposals are submitted on a prescribed application form. Proof of company registration must be attached to the application.
• Where the investment may have adverse impact on security, health or environment, clearance from the competent authorities (such as, National Environment Management Authority (NEMA), Public Health authorities, etc) will be required before approval is granted.
• Also, clearance is required from parent ministries for investments in restricted areas before IPC approval is granted. These investments comprise: –
• Investments to produce excisable goods (clearance from Customs and Excise is a pre-condition. • Investments in forest products and mining (clearance from Ministry of Environment and Natural resources).
• Investments in energy and petroleum products (clearance from Ministry of Energy)
• Investments in the manufacture Under Bond Programme (MUB) (authority to manufacture under bond must be obtained from Minister for finance).
• Investments in the tourism industry (clearance from the Ministry of Tourism).
Restrictions on Doing Business in Kenya:
• Equity restrictions are only in telecommunications sector (a minimum of 30% must be local).
• Investments in the insurance industry must have local participation.
• Ownership of agricultural land by foreigners is restricted.
• Engagement in petty business by foreigners is also restricted.
Kenya - Ultimate Safari Destination
Kenya is ultimate Safari destination, providing travelers with a window into the heart of Africa. Located near equator, Kenya’s magic lies in the fact that the country encompasses astounding variety of landscapes and climate, flora and fauna, as well as communities and cultures, home and water sports, a swim with dolphin and adventure.
Between Kenya’s fable Indian ocean coastline in the East to Africa largest freshwater lake (lake Victoria) in the western part of Kenya is a magic carpet ride of rapid transitions between baobab-speckled coastal lowlands, acacia-dotted grassy Savannah and semi-arid plains, lush and picturesque highlands culminating in a snow capped volcanic peak boosting where Afro Alpine vegetation, the great rift valley and Lake Victoria basin. Going to the northern parts of the country takes you to the cradle of humankind, jade sea and some purest desert escape, while proceeding south takes you through the Masai planes which comprise some of the world most diverse wildlife Parks.
For authentic game drive experience, the annual wild beast migration in the Maasai Mara game reserve is a must see; every year beginning of July to August, the Spectacular dubbed that the 8th new wonder of the world is all for you to experience.
The big five, rare birds and animals, apes, insects and unique Flora find a natural home within this space.
For birds lovers a visit to Lake Nakuru National Park will open doors to several species of birds; the lake is however famous for the greatest spectacles of earth flamingos.
Teeing off in one of the top notch Golf Course throughout the countries give tourists right from the shadow of the second highest mountain in Africa mt. Kenya to Pristine beaches. This is from the choice of over 40 Golf courses that Kenya boast of. Where else in the world can you see of in the Northern hemisphere and put in on Southern hemisphere? and in doing so discovered that our high altitude condition at 10% Yardage to your stroke letting you play on a natural high.
Kenya offer a tropical sunshine, blue skies and endless silver white beaches back by waving palm and tranquil lagoons. Kenya is indeed magical and destination a destination that many are eager to visit.
Kenya - Culture & Customs
The Iconic Maasai jump
Kenya has a colorful mosaic of richly diverse culture, with blend harmoniously into one beautiful nation.
Virtually all Kenyans communities have elaborate music and dances to celebrate special event like harvest, wedding and other cultural ceremonies.
Some of these festivals have such as the Maulidi Festival in Lamu and Sambuu cultural festival continues to entertain to this day. All these diverse cultures are translated to a vibrant contemporary entertainment.
The beautiful Kenya landscape has been a choice filming location for award winning movies among them- out of Africa, First Grader and Tomb Raider are a few.
The nation of beautiful contrast Kenya culture exemplify the art of adornment and decorations providing a unique variety of traditional craft such as the Maasai breads,the Kisii soapstone, the kiondo and Kikoy.
The richness have inspired Global fashion icons like Louis Vuitton, who has elevated the traditional kikoi into international trend.
Kenya has a rich menu of cuisine inspired by its different cultures. The famous “nyamachoma” or African barbeque is authentically Kenyan.