Business Profile
Economy: The Kenyan economy is largely agricultural – 75 per cent of the population work on the land, contributing around 30 per cent of national output. The main cash crops are tea and coffee, although pyrethrum, sisal, sugar and cotton are also important. Kenya is one of the few African countries with a significant dairy industry. Hydroelectric plants meet 80 per cent of the country’s energy requirements. The remainder comes from imported oil, which is also used for one of the country’s principal industries, the manufacture of petroleum-based products such as plastic and chemicals. Kenya, which has one of Africa’s largest manufacturing sectors, also produces cement, paper, drinks, tobacco, textiles, rubber and metal products, ceramics, and electrical and transport equipment. The mining industry, however, is very small. In the service sector, tourism is the largest industry and the country’s principal source of foreign exchange.
Like many African countries, Kenya signed up to an IMF-imposed Structural Adjustment Programme in the mid-1990s but it lapsed following policy disagreements between the Fund and the Kenyan government. Further concerns, mainly concerning political reform and widespread corruption, disrupted Kenyan relations with its other major Western aid donors. The IMF and World Bank withdrew support entirely in January 2000 but have since agreed to resume aid conditional on the introduction of anti-corruption measures and the privatisation of several major state-owned enterprises. In addition, for the first time, foreign investors have been allowed to take controlling stakes in Kenyan companies.
Recent economic performance has been moderate. The UK is Kenya’s major trading partner, followed by Germany, Japan and the United Arab Emirates. In Africa, Uganda is Kenya’s most important export market and source of imports.
Business: Lightweight suits are recommended for all occasions. Prior appointments are necessary. Although Swahili is the national language, English is the official language and is widely spoken. Office hours: Mon-Fri 0800-1300 and 1400-1700. In Mombasa, offices usually open and close half an hour earlier.
Commercial Information: The following organisations can offer advice: Kenya National Chamber of Commerce and Industry, PO Box 47024, Ufanisi House, Hailé Sélassie Avenue, Nairobi (tel: (2) 220 866; fax: (2) 340 664); or Investment Promotion Centre, PO Box 55704, Eighth Floor, National Bank Building, Harambee Avenue, Nairobi (tel: (2) 221 401; fax: (2) 336 663; e-mail: info@ipckenya.org; website: www.ipckenya.org).
Conferences/Conventions: Main urban centres, such as Mombassa and Nairobi, and most international hotels have conference facilities available. The Kenyatta International Conference Centre, PO Box 30510, Nairobi (tel: (2) 332 383; fax: (2) 252 779) offers facilities, as does the Kenya College of Communication and Technology. For further information contact Kenya Tourist Board (see Contact Addresses section).
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