KENYA - Best Business Opportunities, Thrust areas for Investment, Startup and Entrepreneurship

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• published: 22 Mar 2016
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INTRODUCTION Kenya is a country in Africa and a founding member of the East African Community (EAC). Its capital and largest city is Nairobi. Kenya is a beautiful country, with stunning beaches and a large number of wildlife parks and reserves. Visitors also come to experience the unique cultures of Kenya's people. Kenya is one of the most popular travel destinations in Africa, largely due to its naturally beautiful landscape and wildlife. The capital, Nairobi, is a regional commercial hub. The economy of Kenya is the largest by GDP in East and Central Africa. Agriculture is a major employer; the country traditionally exports tea and coffee and has more recently begun to export fresh flowers to Europe. The service industry is also a major economic driver. FOCUS SECTOR OF DEVELOPMENT Manufacturing: Although Manufacturing Companies in Kenya are small; they are the most sophisticated in East Africa. The Industries in Kenya have been growing since the late 1990s and into the new century. The manufacturing companies in Kenya are relatively diverse. Kenya is a favourite destination for investors willing to put their money in manufacturing. Expanding the manufacturing sector is a major part of the government’s Vision 2030 economic development plan to transform Kenya into a middle-income country. Tourism Sector: Kenya’s rich biodiversity attracts over 1.4 million tourists each year. Tourism is the second highest source of foreign exchange revenue, earning roughly $1 billion annually. Conservation and sustainable management of Kenya’s natural capital is therefore an important strategy for the country’s economic growth. The Tourism industry is one of the largest foreign exchange earners in Kenya with its total contribution to the gross domestic product (GDP) pegged at 10 percent in 2011(GoK, 2011). Horticulture: The horticultural sector is one of the fastest growing sectors in the economy and is the second largest foreign exchange earner after tea. Opportunities exist in production and export of products such as cut-flowers, French beans, pineapples, mushrooms, asparagus, mangoes, macadamia nuts, avocados, passion fruits, melons, and carrots. Energy Sector: The energy sector in Kenya is largely dominated by petroleum and electricity, with wood fuel providing the basic energy needs of the rural communities, urban poor, and the informal sector. Energy in Kenya describes energy and electricity production, consumption, import and export in Kenya. Information & Communication Technology: The Information and Communication Technology Authority (ICTA) of Kenya is a Government Owned Corporation tasked with rationalizing and streamlining the management of all the Information and Communication Technology (ICT) functions of the Government of Kenya. Agriculture Sector: Kenya has the largest, most diversified economy in East Africa. Agriculture is the backbone of Kenya’s economy and central to the Government of Kenya’s development strategy. Agriculture is the second largest contributor to Kenya's gross domestic product (GDP), after the service sector. The principal cash crops are tea, horticultural produce, and coffee. Horticultural produce and tea are the main growth sectors and the two most valuable of all of Kenya's exports. The production of major food staples such as corn is subject to sharp weather-related fluctuations. Tea, coffee, sisal, pyrethrum, corn, and wheat are grown in the fertile highlands, one of the most successful agricultural production regions in Africa. Livestock predominates in the semi-arid savanna to the north and east. Coconuts, pineapples, cashew nuts, cotton, sugarcane, sisal, and corn are grown in the lower-lying areas. Invest and start a business in Agriculture in Kenya. Produce and sell vegetables, fruits, soya beans, maize, cassava, rice, etc. See more at: http://goo.gl/x4RzGP http://www.entrepreneurindia.co/