Kenya serves as a regional hub for trade and finance in east Africa. For some time growth has been impeded by too much reliance on primary goods and corruption.

After considerable progress under the new government installed in 2003 in the combat of corruption, there were serious setback as evidenced by high-level scandals in 2005 and 2006. Still, recent reforms and market deregulation are expected to stimulate interest among foreign investors.

There has been increased foreign participation in Kenya’s capital markets after the liberalization of foreign exchange flows.

Country Profile

The Republic of Kenya is bisected by the Great Rift Valley extending from Lake Turkana in the north to Lake Natron on the Tanzanian border. There are some 20 national parks, including Masai Mara (adjoining Tanzania’s Sergeti park), Amboseli and Tsavo.

The equator runs across the foothills of snow-capped Mount Kenya (17,057 ft/5,199 m), Africa’s second highest mountain. Three quarters of the population consist of Bantu-speaking peoples (Kikuyu, Luhya and Kamba) while the remainders are Nilotic (Luo, Maasai or Masai, Samburu, Turkana and Kalenjin).

Other minority groups include the Indian, Arab and European expatriates. English and Swahili are official languages. About three-quarters of the population is Christian while the rest adhere to ethnic beliefs.

Business Activity

Agriculture

Coffee, tea, wheat, sugar cane, fruit, vegetables, dairy products, beef, pork, poultry, eggs.

Industries

Small-scale consumer goods (plastic, furniture, batteries, textiles, soap, cigarettes,, flour), agricultural products processing, oil refining, cement, tourism.

Natural Resources

Gold, limestone, soda ash, salt barytes, rubies, fluorspar, garnets, wildlife.

Exports

$4 billion (est. 2007): tea, coffee, petroleum products, fish, horticultural products.

Imports

$8.5 billion (est. 2007): machinery and transportation equipment, consumer goods, petroleum products.

Major Trading Partners

Uganda, South Africa, Tanzania, UK, US, UAE, Netherlands, Japan, China, India, Saudi Arabia.

Source: Les de Villiens, Africa 2009, Ninth Edition (A publication of The Corporate Council on Africa and Business Books International)