Kenya was ranked 108th out of 189 world economies and third most reformed country on ease of doing business.
According to the World Bank’s Ease of Doing Business Report 2016, the Kenyan nation has climbed up 28 places to 108 in the latest rankings, from the place 136 in the previous year. The report highlights areas of improvement such as:
reduced electricity connection procedures;
facilitating opening a business with a one-stop company registration;
easier and transparent property registration through a digitalized record;
improved access to credit information and
improved mobile banking platforms.
These improvements are a result of the new policies and regulatory reforms meant to revolutionize the business environment. For example, the Kenyan President ratified the Special Economic Zones Act, the Business Registration Service, the Companies Act, and the Insolvency Act, all which help businesses expand.
Overall, despite a predicted drop of growth in the Sub-Saharan region, Kenya is still expected to grow by 4 per cent in 2015 and 4.3 per cent in 2016. This is down from an average of 5 per cent last year, but the country is expected to experience accelerated growth due to investment in infrastructure.
"Growth is forecasted to accelerate in Kenya, we have met with different counties in the past few weeks and we saw how open the authorities are to collaborate with businesses. Also, there is an increased investment in infrasructure, which also creates new opportunities." Michael Sederberg Rottbøll, Quercus Group Partner
The growth of the Kenyan economy and new regulatory frameworks are increasing the business opportunities for both local and international investors.
Quercus Group and Confederation of Danish Industry invite companies interested in the Kenyan landscape to join a business delegation in Nairobi, during January 18 – 21, 2016.