Horizon Kenya

"The economic vitality of East African markets is well established. When we consider the consolidated growth rates of all East African countries, they are higher than the sub-Saharan average. Our priority is therefore to reveal opportunities for strengthening partnerships between East African and French entrepreneurs for impactful projects in the most promising sectors in this region: digital & fintech, agribusiness, renewable energy, transport infrastructure, and the blue economy. Our entrepreneurs actually have a lot to learn from local players in each of these sectors."

Yves BATTESTI
Regional Manager – East Africa, Southern Africa and Indian Ocean – Bpifrance

KEY FIGURES

• Population : 52 million inhabitants
• GPD : 104 billion (in USD)
• 65ème world economic power
• Currency : Kenyan shilling
• Exchange rate regime : floating

COUNTRY RISKS

• Vulnerability of public accounts : the debt/GDP ratio is rising to 73,3% of GDP in 2023, linked to the depreciation of the currency.
• Business climate : the business climate is improving but the corruption perception index remains high.
• Climate vulnerability : Kenya is very vulnerable to climate change, floods and drought in particular.
• Vulnerability of the banking sector : the profitability of the sector has tended to decrease in connection with the increase in provisions for losses.

AREA OPPORTUNITIES

• Stable economic growth : with an annual growth of 6%, Kenya remains one of the most dynamic economies in Africa.
• Regional Hub : Nicknamed the “Silicon Savannah”, Nairobi is a major tech hub, offering easy access to neighboring markets and fintech startups.
• Pro-business environment : The Kenyan government encourages foreign investors through a developed private equity and venture capital market.
• Emerging middle class : the increase in purchasing power of the middle class creates a growing demand for consumer goods.

To discover the full content, check out our edition Horizon Kenya.