Are you looking to invest in Kenya? This is the perfect time for you to get started. The economy is projected to grow by 5.9% in 2022 according to the Economic Survey 2021.
Rising investment opportunities in Kenya have been attracting traders and investors.
Kenya’s resilience attracts more investors in 2022
The world saw the impact of the pandemic significantly shake up the global economy as Coronavirus became a global pandemic. Kenya implemented lockdowns as a mitigation measure. As a result, business operations were disrupted. The Kenyan economic projections became unpredictable. The trade and investment industry in Kenya were greatly affected. Investors trying to test the waters of the Kenyan investment industry held off waiting for better days to come.
Gradually, the world revolutionized the way it operated in normalcy to survive and thrive in a pandemic. Kenya was not left behind. The Kenyan economy promises robust post-pandemic growth. According to a recent press release by the World Bank; Kenya has shown resilience throughout this period. “The recent economic performance has been strong and the outlook is positive,” said Alex Sienaert. This acts as an assurance to traders and investors looking to explore the market.
5 Reasons why you should invest in Kenya in 2022
Kenya is the land of unlimited possibilities for investors
Kenya has been diversifying beyond commodities and tourism. With reputable investors or companies like Mobius Motors, Kenya can now boast of manufacturing cars for the African market. On one hand, foreign investors continue putting down their roots in the private sector. On the other, the local investors are also working hard to increase their shares in the same market. Therefore, as a potential investor looking to make Kenyan a new home for your business venture, now is the right time to start.
Kenya is developing at a fast pace.
Over the past decade, Kenya has been implementing strategic transport and infrastructure projects. This has made her a major transport hub in Africa while boosting economic growth. This has also facilitated the expansion of existing organizations and encouraged new companies to enter the market. For instance, the ongoing Nairobi road development project brought together Kenyan and International contractors. Nairobi is a cosmopolitan and culturally diverse African capital for such reasons. Thus, as a prospective investor, it’s important to note that a great number of international and local private entities are hungry for this vibrant market.
Kenya’s population favors investors
As of today, the population of Kenya is 55,717,061, based on Worldometer elaboration of the latest United Nations data. A high percentage of the population comprises highly educated and skilled professionals. In spite of market dynamics constantly changing, Kenyans continue to upskill and keep up with the job market needs. This boosts the employees’ value proposition. As more Kenyans are able to take up leading positions, foreign companies do not need to outsource their lead teams from a different country. This is an advantage to the investors seeking a resourceful and result-oriented workforce.
Kenya has a diverse range of natural resources.
Kenya is one of the top exporters in Africa. It boasts of countless valuable commodities. Investing in Kenya means easy access to these commodities for the investors and a boost in the value chain. Investors are presented with a well-equipped market with valuable commodities and a highly skilled workforce. Foreign investors can help Kenya gain more exposure to international markets and competitors.
Kenya’s digital economy is thriving.
A great number of Kenyan businesses are currently running their businesses online. This was a result of the numerous lockdowns put in place since the emergence of Covid-19. In January 2022, 23.35 million internet users were reported in Kenya.The locals have invested in skills to make themselves thrive in the digital ecosystem. Therefore, investors will enjoy this, as well as, well-optimized digital systems for sustainable business growth.
3 Sectors in Kenya to invest in, 2022
1. Real Estate
The first sector to invest in Kenya in 2022 is real estate. The real estate sector in Kenya has been constantly thriving for several years now. Choosing to invest in real estate can be a profitable venture. Kenyans in the urban areas have been appreciating the state of art housing options presented by the ever-growing industry. This encourages more investors to channel funds into the sector.
2. Agribusiness
The second sector to invest in, in Kenya, is agribusiness. Agribusiness is considered one of the top contributors to Kenya’s economic growth. Kenya tops the list of the world’s leading exporters of tea, coffee, flowers, vegetables among others. There is a high demand for international platforms to showcase Kenyan products. For that reason, Financing agribusiness acts as one way of promoting Kenyan exports. As well as, giving Kenya an opportunity to reach a broader market segment.
3. Tourism
The third sector to invest in in Kenya is tourism. Kenya has countless tourist attractions. Its tourist attractions pull thousands of tourists to the country throughout the year. This makes it one of the most important and competitive sectors in the country. One can never go wrong with investing in any tourism venture.
Some of the ways you can venture into tourism and invest in Kenya may include
- The development of resorts, amusement parks, etc.
- Construction of facilities for professionals like conference centers.
- Construction of recreational sports facilities
- Investment in Airbnb
4. Invest in Kenya Sports
Kenyan sportsmen and women are recognized worldwide for their exceptional performances. As Kenya looks for ways to showcase its talents to the world, there’s always a need for funding. All you need to do is choose a sport that you would like to invest your money into and get started. Some of the top sports Kenya is known for include: rugby, volleyball, and golf. Athletics top the list. Hence, this would be one of the best sports to invest in.
Conclusion
The country’s potential to turn around its economy only opens up more possibilities and opportunities. Considering all of these, anyone who wishes to invest in Kenya in 2022 will enjoy these benefits and more. To find out more about matters of tourism, trade, and investment in Kenya, get in touch with us.