Business
Kenya has a free enterprise economy and the strongest industrial base in the eastern and central African region. In 2003 Kenya’s estimated population was 32.2 million, an increase of over 3 million when compared to the figure of 28.7 million people recorded during the last population census in 1999.
Kenya therefore, has about 40% of the total East African Community population of about 80 million people. It is thus, a sizeable market apart from being a strategic investment, tourist and trading location. It has easy access to various export markets such as the Common Market for Eastern and Southern Africa (COMESA), the rest of Africa, Asia, the Middle East and Europe. As a transport and communications hub for the sub-region, Kenya is also competitive when trading with distant markets such as the USA, Canada, and Australia. Increased trade with the USA has been enhanced by the African Growth and Opportunity Act (AGOA).
Kenya is a member of several commercial and economic organisations which make the country a safe and secure place to do business. These include the World Trade Organisation (WTO); the United Nations Conference on Trade and Development (UNCTAD); the African, Caribbean and Pacific/European Unions (ACP/EU) Cotonou Agreement, the International Monetary Fund; the World Bank, the Multilateral Investment Guarantee Agency; and the African Trade Insurance Agency among others.