OCL report on ease of doing business in Kenya
Kenya is Widely considered the financial and logistics hub of East Africa, and with government reforms continuing to improve the business climate, Kenya is well-positioned to maintain and boost its status as an African economic powerhouse. The country’s long-term focus on digital trade, its fast-growing ICT sector, and commitment to infrastructure development, present tremendous opportunities to companies looking to tap into its burgeoning potential.
According to a report from the Kenya national bureau of statistics published in October 2021, real GDP grew by a robust 10.1% in the second quarter of 2021 compared to a contraction of 4.7% in the same quarter of 2020.
The report says that economic activity and growth was driven by an easing of policy measures and supported by sectors including information, communications and technology (ICT, which recorded 25.2% in Q2 last year), transportation and storage (16.9%), financial and insurance activities (9.9%) and manufacturing (9.6%).
Kenya is an anchor economy in East Africa, which was the only region on the continent that escaped a recession in 2020, growing at 0.7% in 2020, compared with the continental average of -1.8%, according to Africa development bank
“East Africa’s resilience was supported by strong growth in Djibouti, Ethiopia, Kenya and Tanzania, which recorded positive growth supported by more diversified services sectors and sustained public spending on large infrastructure projects
Kenya maintained its strong business reform agenda, carrying out five key reforms in the past year to improve the business climate for small and medium-sized businesses, says the World Bank Group’s Doing Business report.
Ocl business associates help business by making the process of doing business in Kenya easy. We provide the following services:
Company legal compliances
Global immigration services