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Investing in Kenya 2018…Why Now?
KENYA -SINGAPORE
KENYA INVESTMENT AUTHORITY
Mr Neal Chandaria
Honorary Consul, Kenya
Invest in kenya |
Table of Contents
 Introduction
 About Kenya Investment Authority (KenInvest)
 Kenya at a Glance
 Wh...
Invest in kenya |
A Republic of Kenya State Agency under the Ministry of Industry, Trade and
Cooperatives established unde...
Invest in kenya |
The Republic of Kenya:
Located in East Africa with massive resources. Lies on the Equator bordered by
So...
Invest in kenya |
2015 2016 2017 2018 2019 2020 2021
GDP Growth 5.7 5.8 4.8 5.5 5.9 6.1 6.2
Inflation 6.6 6.3 8.0 6.7 5.1 ...
Invest in kenya |
Why Kenya Now: It is one of Sub-Saharan Africa’s most exciting locations & home
to some of the world’s m...
Invest in kenya |
What has GoK done to improve Kenya’s business environment thus
making the country a destination of choic...
Invest in kenya
Agricultture
Mining
Manufacturing
Construction
Wholesale andRetail
ICT
Real Estate
Education
Health
Transp...
Invest in kenya
Kenya – Singapore Trade Statistics
Top Exports: Ores and concentrates of base metals, Petroleum oils, Vege...
Invest in kenya
The Government has set specific priority agenda and measures to
focus on in the next 5 years. Big Four age...
Invest in kenya |
Food and Nutrition security
Agriculture contributes about 51% to GDP: 26% directly and another 25% indir...
Invest in kenya |
Affordable housing
Objective:
Facilitate mass housing production of at least 1,000,000 affordable homes ...
Invest in kenya |
Manufacturing Sector
Objective: To increase manufacturing from current 10% to 15% of GDP by 2022
The gro...
Invest in kenya
Affordable Healthcare for All: 100% Universal Health Coverage
Critical Drivers Current Status: Current Cov...
Invest in kenya |
Other Quick offers available for Chinese Companies
 Setting up of H/Qs to serve the East & Central Afri...
Invest in kenya |
Kenya's foreign investment inflows in 2017 soar 71% defying Africa slump
Some Key Investments into the c...
Invest in kenya
NO EXCHANGE CONTROLS
guarantees repatriation of
capital, profits and interests.
In Kenya the safety of you...
Invest in kenya
 Capital goods and raw materials are zero-rated;
 Plant, Machinery & equipment are duty
exempt;
 Some o...
Invest in kenya |
Investor Support & Facilitation: Step By Step Guide To
Investing & Doing Business in Kenya – ONE-STOP-CE...
Invest in kenya |
20
EPZ or SEZ
Set Up
Obtain a Work Permit
Obtain a Power
Connection
Obtaining import/ export
permits
Obt...
Invest in kenya
Government of Kenya OSC – Managed by KenInvest
Invest in kenya
Kenya remains the destination of choice for investment in Africa.
“Kenya has emerged as one of Africa’s fr...
Invest in kenya
Living & Working in Kenya – The Good Life
Kenya offers many advantages that make it a good choice for sett...
Invest in kenya |
Institution Mandate Contact
Kenya Investment
Authority
Investment Promotion and
Facilitation
info@invest...
Invest in kenya |
Welcome to Kenya – Business Hub of Africa
UAP Old Mutual Tower, Upperhill – Nairobi, Kenya
+254 730 104 ...
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Africa Singapore Business Forum 2018 | Kenya

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Africa Singapore Business Forum, 28 - 29 August
Country Panel Presentation - Kenya

www.enterprisesg.gov.sg/asbf

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Africa Singapore Business Forum 2018 | Kenya

  1. 1. Investing in Kenya 2018…Why Now? KENYA -SINGAPORE KENYA INVESTMENT AUTHORITY Mr Neal Chandaria Honorary Consul, Kenya
  2. 2. Invest in kenya | Table of Contents  Introduction  About Kenya Investment Authority (KenInvest)  Kenya at a Glance  Why Kenya NOW?  What Kenya Offers  Kenya Investment Authority Support to Investors  Other Business Support Institutions  Conclusion & Parting Shot  Our Contacts
  3. 3. Invest in kenya | A Republic of Kenya State Agency under the Ministry of Industry, Trade and Cooperatives established under the Investment Promotion Act No. 6 of 2004, with the mandate of promoting and facilitating investments in Kenya Key functions Kenya Investment Authority (KenInvest)
  4. 4. Invest in kenya | The Republic of Kenya: Located in East Africa with massive resources. Lies on the Equator bordered by Somalia, Ethiopia, Sudan, Uganda, Tanzania and the Indian Ocean. Kenya is the top most preferred investment destination in East Africa, with the majority of venture hunters attracted to good infrastructure & EODB - The Ernst & Young (EY) Africa attractiveness index - 2017
  5. 5. Invest in kenya | 2015 2016 2017 2018 2019 2020 2021 GDP Growth 5.7 5.8 4.8 5.5 5.9 6.1 6.2 Inflation 6.6 6.3 8.0 6.7 5.1 5.0 4.9 Private Consumption 2.5 7.2 5.9 5.8 5.9 6.0 6.2 Government Consumption 13.0 7.0 5.7 5.5 5.8 6.4 5.9 Private Investments 6.1 -11.5 -1.2 2.5 3.8 4.0 5.3 Government Investments 2.0 -9.1 4.4 6.7 6.1 7.3 6.2 Exports Goods & Services 6.2 0.6 2.9 3.2 5.3 5.0 6.2 Imports Goods and Services 1.2 -4.7 2.4 3.9 4.9 4.9 5.0 Current Account Balance -6.8 -5.1 -5.1 -5.4 -5.1 -5.8 -5.5 Fiscal Deficit -6.0 -5.4 -6.4 -6.4 -5.5 -5.3 -5.1 Public Expenditure 26.1 25.2 26.4 25.8 25.4 24.1 24.6 Interest Rate 10.8 8.5 8.6 8.8 8.8 8.8 8.8 Ksh per Dollar 98.2 101.5 103.4 103.4 103.5 102.9 102.4 Source: KIPPRA Treasury Macroeconomic Model (KTMM Kenya’s Economic growth prospects (2018-2021) Specific & directed efforts are required to boost total investment to reach the aspired levels of 30% of GDP
  6. 6. Invest in kenya | Why Kenya Now: It is one of Sub-Saharan Africa’s most exciting locations & home to some of the world’s most successful brands – Providing Excellent Eco-system. Kenya boasts of an open & diverse economy with encouraging prospects & thousands of international investors all over the world have chosen to set up. Kenya is Business Hub due to relatively developed Infrastructure, Roads, SGR, Air Connectivity, Ports, Medical Institutions  Stable macroeconomic environment - supported by a stable inflation rates  Preferential market access – EAC, COMESA-SADC, AGOA, EU, CFTA - This is why Kenya is a distribution hub and commercial powerhouse in the EAC  Fully liberalized economy – No Xchange controls, import & export licensing, as well as restrictions on remittances of profits and dividends, all of which no longer exist.  Regulatory Reforms – To make Kenya Competitive  Strategic location – Strategic Location for Entry into East & Central Africa  Highly developed social and physical infrastructure  Tax treaties and investment protection Agreements – 12 BITs  Pool of Highly Educated, Trainable & Skilled workforce  Well established & Vocal private sector – KEPSA, KNCC&I, KAM
  7. 7. Invest in kenya | What has GoK done to improve Kenya’s business environment thus making the country a destination of choice for investors.. The Key reforms and infrastructural frameworks have improved Kenya’s ranking in various indepe ndent global reports; o Presidential roundtables address emergent issues in the business arena o A cabinet committee on ease of doing business o Business Environment Delivery Unit o One Stop Centre for investors - KenInvest o e-citizen: an official online payments platform for government services. o e-regulations: an online portal providing investors with information and transparency on investment related procedures in Kenya o Kenya Investment Policy: attraction & retention of private investment. 2013 2014 2015 2016 2017 EODB 129 136 108 92 80 GCI -140 96 90 99 96 91 GII -141 99 85 92 80 IIAG -52 21 17 14 12 0 20 40 60 80 100 120 140 160 RANK EODB GCI -140 GII -141 IIAG -52
  8. 8. Invest in kenya Agricultture Mining Manufacturing Construction Wholesale andRetail ICT Real Estate Education Health Transport &Infrustructure Hospitality Finance SME %contributiontoGDP What does Kenya Offer? - Key sectors of the economy feed into the GDP, with the SME sector making a significant contribution (28.5%) to the national economy
  9. 9. Invest in kenya Kenya – Singapore Trade Statistics Top Exports: Ores and concentrates of base metals, Petroleum oils, Vegetable textile fibres, Leather, Oil seeds, Crude vegetable materials and Tea Top imports: Fixed vegatable fats, crude, refined or fractionate, Synthetic fibres suitable for spinning, Polymers of ethylene, in primary forms, Polyacetals, other polyethers and epoxide resins, in primary forms; Polycarbonates, alkyd resins and other polyesters, in primary forms YEAR EXPORTSINKSH IMPORTSINKSH BALANCEOFTRADE 2013 1,678,896,250 19,436,565,152 -17,757,668,902 2014 1,168,739,650 14,623,810,211 -13,455,070,561 2015 1,404,456,012 9,612,310,563 -8,207,854,551 2016 356,758,455 6,794,593,582 -6,437,835,127 2017 375,391,467 5,829,219,751 -5,453,828,283 AVERAGEVALUES 1,136,208,883 18,325,880,645 -17,189,671,762
  10. 10. Invest in kenya The Government has set specific priority agenda and measures to focus on in the next 5 years. Big Four agenda mid-income economy “The Big Four will create jobs which will enable our people to meet their basic needs and transform the lives of our people from that of hardship and want, to greater comfort and well-being.”
  11. 11. Invest in kenya | Food and Nutrition security Agriculture contributes about 51% to GDP: 26% directly and another 25% indirectly. Under the Big 4 Agenda the New and innovative initiatives that will drive 100% food & nutrition security over the next 5 years Focus area: 1. Enhance large scale production  Place additional 700,000 Acres through PPP (including idle arable land) under maize, potato, rice, cotton, aquaculture & feeds production.  Irrigation in food production is an opportunity  Use locally blended fertilizer on a 50/50 basis & implement liming e.g maize. Focus area: 2. Drive small holder productivity  Contract farmers for Strategic Food Reserve & other commercial off-takers  Secure investments through PPP in post-harvest handling (storage, cold storage for fish, aggregation) and market distribution infrastructure to reduce losses (by Dec 2018) Focus Area: 3. Reduce cost of food  Contract farmers for Strategic Food Reserve & other commercial off-takers  Secure investments through PPP in post-harvest handling (storage, cold storage for fish, aggregation) & market distribution infrastructure to reduce losses (by Dec 2018)
  12. 12. Invest in kenya | Affordable housing Objective: Facilitate mass housing production of at least 1,000,000 affordable homes in 5 years across the country by working in partnership with financial institutions, private developers, manufacturers of building materials and cooperatives to deliver homes faster & reduce the cost of construction by at least 50%. To increase Real estate & construction sector GDP contribution from 7% to 14% by 2022 Situation: Kenya has a deficit of 250,000 housing units annually. The low cost housing agenda seeks to plug in on the acute shortage of habitable housing units nationally.  Development of affordable housing to cater for the needs of low income Kenyans  Setting up factories for Industrial Building Systems (IBS) for timely delivery of construction  Engage in joint ventures with county governments agencies towards delivery of affordable housing Incentive: 15% corporate tax for developers of 100 low cost residential units and above While targeting to build the 500,000 housing units, 350,000 people will get jobs
  13. 13. Invest in kenya | Manufacturing Sector Objective: To increase manufacturing from current 10% to 15% of GDP by 2022 The growth of the sector is expected to play a vital role in supporting the country’s social economic development particularly with regard to employment creation. A vibrant manufacturing sector is key to this policy aspiration due to its high labour intensity & linkages with other sectors of the economy such as agriculture & service Formal employment in the sector rose marginally by 0.8% to 303,300 persons in 2017 accounting for 11.4% of total formal employment.  Agro-processing (tea, coffee, fruits, cereals, milk, fish and meat);  Animal feeds including fish feeds;  Leather processing and manufacturing;  Construction materials for low income housing;  Pharmaceutical manufacturing; Auto Industry;  Assembly of Electronic/ ICT;  Development of industrial zones and parks; and  Other areas that Chinese investors would be keen to invest. Other Sub-sectors include; Construction materials, Iron & Steel, ICT products, Mining, oil & gas
  14. 14. Invest in kenya Affordable Healthcare for All: 100% Universal Health Coverage Critical Drivers Current Status: Current Coverage 16.5M target 35M = Population covered 51M by 2022
  15. 15. Invest in kenya | Other Quick offers available for Chinese Companies  Setting up of H/Qs to serve the East & Central Africa/ Rest of Africa – Nairobi is the Regional Business Hub/Transport/Logistics  Establish Trading Companies to serve Kenya/Region/ Kenya Products are acceptable in the Region – Look for Partners focusing on Import & Export  Infrastructure & Construction Projects – Geothermal Power Plants – Green Fields and Expansion of Existing, Ports – Mombasa, Lamu, Kilifi, Inland Container Terminals/Dry Ports  Opportunities in Transport Corridor Devt–Northern Corridor Opportunities, LAPPSET, Pipelines  Manufacturing – Trade & Move to Local Production – Cut down on costs. Focus on Motor Vehicle Assembly, Commercial Vehicle Assembly, Food Processing & Packaging, Textiles & Apparels  Setting up of International/ Popular Brands in Kenya – to target fast growing middle class, Foreign Residents based here in Kenya  Consulting Services – Logistics, Legal & Accounting, Market Research etc  Development & Investing in Investment Attraction Facilities - SEZ’s Industrial Parks, Godowns  Provision of Financial Services – To serve local & International companies in Kenya & the region
  16. 16. Invest in kenya | Kenya's foreign investment inflows in 2017 soar 71% defying Africa slump Some Key Investments into the country due to improved business climate are here below. Excellent business ecosystem…Some of the MNCs present in Kenya Kenya's strong performance was due mainly to “buoyant domestic demand & inflows into ICT industries,” the UNCTAD
  17. 17. Invest in kenya NO EXCHANGE CONTROLS guarantees repatriation of capital, profits and interests. In Kenya the safety of your investments is guaranteed… Signatory of several Bilateral Investment Treaties; Investment Promotion & Pro tection Agreements (IPPAs)
  18. 18. Invest in kenya  Capital goods and raw materials are zero-rated;  Plant, Machinery & equipment are duty exempt;  Some of the plant, machinery and equipment are exempt from VAT;  Market access in COMESA & EAC markets with no taxes; Investment Allowance:  100% Nairobi, Mombasa and Kisumu cities; and  150% - Those in other parts of the country . Export Processing Zones (EPZ) Scheme:  10 year tax holiday;  25% corporate tax for another 10 years;  Duty & VAT exemption;  Single license;  Exemption from stamp duty; and  Exemption for withholding tax. Special Economic Zones (EPZ) Scheme:  10 year tax holiday;  15% corporate tax for another 10 years;  Duty & VAT exemption;  Single license;  Exemption from stamp duty; and  Exemption for withholding tax. Incentives for listing in the Capital market:  Issuance of at least 40% of share capital- 20% tax for 5 years  Issuance of at least 30% of share capital of share- 25% tax rate for 5 years  Issuance of at least 20% of share capital- 27% tax rate for 3 years. In this regard a number of incentives have therefore been put in place to facilitate entry and expansion of investment..
  19. 19. Invest in kenya | Investor Support & Facilitation: Step By Step Guide To Investing & Doing Business in Kenya – ONE-STOP-CENTRE
  20. 20. Invest in kenya | 20 EPZ or SEZ Set Up Obtain a Work Permit Obtain a Power Connection Obtaining import/ export permits Obtaining a Construction Permit Obtain Environment Permit Registration of Land Social Security Registration Company Registration Tax Registration Functions currently facilitated by the GoK One Stop Centre (OSC)
  21. 21. Invest in kenya Government of Kenya OSC – Managed by KenInvest
  22. 22. Invest in kenya Kenya remains the destination of choice for investment in Africa. “Kenya has emerged as one of Africa’s frontier economies” IMF MD- Ms. C. Lagarde “If you are going to do business in Africa, Kenya is almost a requirement.” Former CCA President- Mr. Stephen Hayes “I have been everywhere and Kenya is my favourite place.” Virgin Atlantic CEO – Mr. Richard Branson
  23. 23. Invest in kenya Living & Working in Kenya – The Good Life Kenya offers many advantages that make it a good choice for settlement and investment. There is the spectacular and diverse nature with landscapes ranging from wildlife, beautiful beaches, mountains to cultural & entertainment amongst others
  24. 24. Invest in kenya | Institution Mandate Contact Kenya Investment Authority Investment Promotion and Facilitation info@investmentkenya.com Export Processing Zones Authority Promote and facilitate export oriented investments info@epzakenya.com LAPSSET Coordinate and manage the implementation of transport corridor info@lapsset.go.ke KOTDA Construct and Setup KOTDA konza@konzacity.go.ke Kenya Revenue Authority Promote efficient tax administration callcenter@kra.go.ke eCitizen Providing public services to citizens electronically www.accounts.ecitizen.go.ke Export Promotion Council Developing and promoting Kenya's exports chiefexe@epc.or.ke Special Economic Zones Authority Development and management of enabling environment for global and local investment. ps@industrialization.go.ke Other Investor Support Institutions…….
  25. 25. Invest in kenya | Welcome to Kenya – Business Hub of Africa UAP Old Mutual Tower, Upperhill – Nairobi, Kenya +254 730 104 200 www.invest.go.ke Be part of the success!
  • PaigeNielsen1

    Nov. 27, 2021
  • edgarkirwa

    Sep. 3, 2020

Africa Singapore Business Forum, 28 - 29 August Country Panel Presentation - Kenya www.enterprisesg.gov.sg/asbf

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