Investment Opportunities
Trade & Investment
Kenya and Oman remain mutual trading partners. The Mission continues to promote bilateral trade and economic relation in Oman.
It does so by establishing contacts between the respective and prospective business communities and participating in national and international trade fairs and exhibitions that are held from time to time. The mission also responds to commercial and trade enquiries from businesspeople on a daily basis.
Trade Portal
Information for Trade in Kenya Portal also known as the InfoTradeKenya Portal. The Portal is a web-based platform, implemented by KenTrade in partnership with the United Nations Conference on Trade and Development (UNCTAD) and Trademark East Africa (TMEA), on which the Government has published trade regulatory information from all government offices, ministries and agencies that impose controls on trade.
The main benefits of the InfoTradeKenya Portal are:
- Provide current, potential and other stakeholders with total transparency on rules and procedures pertaining to import and export formalities through detailed, practical and up to date description of steps to go through, as seen from the user’s point of view.
- Facilitate the simplification of procedures by enabling easy identification of unnecessary steps and requirements.
- Reduce the cost, time and effort spent in search of trade information.
- Promote public-private dialogue through a shared understanding of rules and procedures.
Investment Opportunities
Investment opportunities exist in nearly all the sectors and especially in agro-based industries, manufacturing., House and urban development, building and construction infrastructure development, tourism and ecology, ICT, Environment and Mining, Water and Sanitation, Sea weed farming and processing, Education, Agriculture, Livestock and fisheries development and Transport sectors
WHY INVEST IN KENYA
Kenya is an investment destination of choice that is open and ready to do business. The following aspects support Kenya’s attractiveness as an investment destination that favour both local and foreign investment.
Preferrential Market Access
Over and above the domestic demand, Kenya is signatory to a number of multilateral and bilateral trade agreements as part of its trade policy providing expanded markets.
Membership of the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA) guarantees a market of approximately 500 million people, and provides free movement of goods and services.
Exports from Kenya enjoy preferential access to the European Union under the ACP-EU framework.
In addition, Kenya is one of the initial beneficiaries of the African Growth and Opportunity Act (AGOA), which provides for preferential market access in textiles to the USA.
Further, Kenya is a member of the World Trade Organization (WTO) making her products access more than 90% of world markets at Most Favored Nation (MFN) treatment.
Taxation
Corporate tax presently stands at 30%. Withholding tax on dividends is 5%. However, inter-corporate dividend payments between closely held companies are exempt from withholding tax.
The standard VAT rate is 16%. Unprocessed agricultural products are exempt from VAT. Inputs into health care, education and agricultural sectors are zero-rated. All exports of goods and services are zero-rated. Exercise duties are levied on beer, tobacco products, matches, spirits, wines, mineral water and biscuits (confectioneries).
Tax allowances are provided for all individual taxpayers. Taxable income includes all business income, employment income, dividends, interest and property income.
More information on Taxation can be found below:
Investment in the Export Processing Zones (EPZs) and Manufacturing Under-Bond (MUB) enjoys a 10-year tax holiday followed by 25% tax rate for the next 10 years and exempt from import duties, VAT, and Sales Tax. Foreign ownership in listed Kenyan companies is generally restricted to 40% in the aggregate and 5% for each individual investor.
There is manufacturing – Under Bond Scheme in operation. The Export Processing Zones Authority (EPZA) operates in 39 Zones, (37 private, 2 public).
Fully Liberalized Economy
Kenya fully liberalized its economy by abolishing exchange controls, removing price controls and import licensing. The government has also freed the Kenya shilling exchange rate to be market driven. Capital Markets are open to foreign participation. There are no restrictions on remittances of profits and dividends.
Highly Developed Social and Physical Infrastructure
Kenya is the EAC logistical financial and business hub that links the Indian Ocean to Atlantic Ocean. It is a trans-shipment hub for goods moving to landlocked countries in East and Central Africa Our Mombasa port is located on international container routes serving as well-integrated landing port for regional shipping networks.
Our Jomo Kenyatta and Moi International Airports have connections to major destinations around the world.
The country also has high quality social amenities such as restaurants, hospitals and entertainment spots-a good reason why Kenya has the highest number of expatriates living and working enjoying life.
Access to large pool of skilled workforce
Access to Large pool of Highly Educated and Skilled Workforce
Kenya prides itself in its large pool of highly educated, skilled and sought-after work force in Africa, trained from within the country and in institutions around the world.
High internet connectivity
Kenya has one of the highest internet access rates in Africa, with over 70% of its population having internet access, making it ideal for investment on an internet-driven and knowledge economy
Kenya is the EAC logistical financial and business hub that links the Indian Ocean to Atlantic Ocean. It is a trans-shipment hub for goods moving to landlocked countries in East and Central Africa Our Mombasa port is located on international container routes serving as well-integrated landing port for regional shipping networks.
Our Jomo Kenyatta and Moi International Airports have connections to major destinations around the world.
The country also has high quality social amenities such as restaurants, hospitals and entertainment spots-a good reason why Kenya has the highest number of expatriates living and working enjoying life.
Well established local private sector
Kenya has a very substantial private sector, including a significant number of foreign investors and is touted as one of the most resilient in the world. The country has always been a market economy. Key players in voicing private sector concerns include, The Kenya Private Sector Alliance (KEPSA), Federation of Kenya Employers (FKE) and The Kenya Association of Manufacturers (KAM).
For more information on this, please visit www.invest.go.ke
Political Stability
Kenya has a Stable Political Environment supported by Effective National Government and County Governments.