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Kenya presents an array of opportunities due to its growing economy, strategic location in East Africa, and substantial market size with over 50 million people. The government’s support through favorable policies and incentives further enhances the appeal for foreign investment. The country boasts abundant natural resources, which can support various industries, and its thriving tourism sector draws in a significant number of visitors. Additionally, Kenya’s improving infrastructure and access to finance, coupled with a young and skilled workforce, create an attractive environment for entrepreneurial ventures. Nevertheless, it’s crucial to conduct thorough market research and be mindful of cultural factors and potential challenges before embarking on a business venture in Kenya or any other country.
Kenya is the largest economy in East Africa, with a domestic market of over 50.92 million people (2022). The increasing need for quality goods and services among the urban middle class gives excellent opportunities for businesses to grow in the region by tapping the emerging market.
At the same time, starting a business in Kenya can help you run your company profitably because of the following advantages:
Undoubtedly, Vision 2030 has opened the doors for foreign direct investments in Kenya. Special Economic Zones Act, 2015 is one of the initiatives taken by the Kenyan Government.
Kenya has 10 Special Economic Zones (SEZs) that support private manufacturing firms and specified services with incentives.
PAYE is deducted monthly at the prevailing individual income tax rates, on or before the 9th of the following month.
