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SEPTEMBER 2014
Dr. Moses Ikiara
Managing Director
Kenya Investment Authority
KENYA: THE GATEWAY TO AFRICA
AFRICAN INVESTMENT PROMOTION FORUM (AIPF)
29TH SEPTEMBER TO 1ST OCTOBER, 2014
SEPTEMBER 2014
Outline
Kenya at A Glance
Kenya’s Aspiration
Why Visit Kenya
Invest in Kenya
Conclusion
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SEPTEMBER 2014
Kenya at a Glance… Population
43.5 million (2012
est.) with population
growth rate of 2.67
percent
Political System
Devolved State with
Multiparty Democracy
47 Counties
Credit Rating
S&P B+ (Stable)
Fitch B+(Stable)
Moody B1(Stable)
Languages
Swahili and English
are official languages.
Climate
Kenya lies on the
equator and enjoys a
varied climate ranging
from tropical to
temperate (10°C to 40°C)
Currency
KES 90 : US$ 1
(June 2014)
Area
582,646 km2
GDP at current US$
US44 billion (2013)
Av. Annual Growth rate 5.7%
Situated at eastern sea bed of Africa and connecting all
East Africa Countries and Great Lakes Region
GDP per capita
US$ 1,016
(2013)
SEPTEMBER 2014
Market Access
Member Countries: 20
Population: 444 Million
Total GDP: USD 360 Billion
Member Countries:5
Population: 135.4 Million
Total GDP: USD 84.7 Billion
Av. Annual growth rate of 6%
Kenya is the business hub in the COMESA and EAC regions.
Soon there will be the tripartite a regional block of the EAC, COMESA and SADC nations
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SEPTEMBER 2014
Kenya’s Aspiration
Social
A just and cohesive society
Economic
To maintain a sustained economic
growth of 10%
Political
An issue-based, people-centred, and accountable
democratic political system
• Young
Democracy
with a big
vision for her
future as
articulated in
Vision 2030
• The strongest
Economy in
the Region
SEPTEMBER 2014
Why Kenya
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SEPTEMBER 2014
The Communication Hub of
the Region-1
Economic
To maintain a sustained economic growth of 10% p.a. for most of
the next 20 years
Port of Mombasa – gateway to East and Central Africa
JKIA – Convenient connection to rest of Africa
Kenya Airways flies to over 63 destinations
Vibrant telecommunication – 30.7 Million subscribers of
mobile telephony
Excellent Internet Connections with 4 fibre
optic cables
Direct flights between Nairobi to Guanzhou
Coming soon: Direct flight to Beijing
SEPTEMBER 2014
Key International Airlines
The Communication Hub of
the Region-2
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SEPTEMBER 2014
The Commercial Hub of the
Region Nairobi –Commercial
and financial hub of the Region
Well developed service infrastructure – banks,
insurance firms, hospitals, capital
market
Home to over 300 Multi National Corporations and a Vibrant Private
Sector
Track record of highly successful home
grown corporation i.e. Equity
Oversubscribed Euro Bond (over 500%)
SEPTEMBER 2014
ICT Hub of the Region
Economic
To maintain a sustained economic growth of 10% p.a. for most of
the next 20 years
ICT innovations e.g. MPESA first mobile
money transfer in the world
Growing Middle Class and Highly tech savvy
Youth in Africa
Twitter generation second in Africa
Nairobi is home to several incubation
hubs i.e. Nailab, i-hub IBM research lab
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SEPTEMBER 2014
Stable Democracy
Economic
To maintain a sustained economic growth of 10% p.a. for most of
the next 20 years
Progressive Constitution with
strong Bill of Rights
Political Stability with elections held every
5 years
Social and Judicial Reforms e.g. first
Country to do vetting of Judges
Respect for Private Property
Media headquarters of Africa
Institutionalized Media Freedom
SEPTEMBER 2014
Excellent Export Quality
Products
Economic
To maintain a sustained economic growth of 10% p.a. for most of
the next 20 years
Top quality products Tea, Coffee, Horticulture
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SEPTEMBER 2014
The Home of Gourmet Coffee…
Value Addition
SEPTEMBER 2014
… and Quality Horticultural Produce
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SEPTEMBER 2014
Emerging exports
Economic
To maintain a sustained economic growth of 10% p.a. for most of
the next 20 years
Titanium
Coal
Other Minerals
SEPTEMBER 2014
Invest in Kenya
Kenya is … An Attractive Country For Investment teeming with opportunities across sectors!
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SEPTEMBER 2014
Investment Opportunities
1 Million Acre Galana Kulalu irrigation Scheme
Privatization of 5 sugar companies
Development of Multipurpose dams for irrigation
Deep Sea/ Lake Fisheries development, management &
processing (Lamu Fish Port; Counties like Busia)
Agricultural Development along LAPSSET Corridor
AGRICULTURE
SECTOR
SEPTEMBER 2014
Investment Opportunities
Construction of housing units (deficit of 150,000 units p.a.); Nairobi
2nd Runway JKIA to facilitate 20 million arrivals by 2017
Standard Gauge Railway Nairobi- Malaba
Commuter Rail; Parking systems to sort out congestion in large cities
Special Economic Zone & Airport City at Nairobi; Dry Port at Voi
INFRASTRUCTURE/
CONSTRUCTION SECTOR
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SEPTEMBER 2014
FINANCIAL SERVICES SECTOR:
• Establishment and implementation of Nairobi International Financial Centre
MANUFACTURING SECTOR:
• Agro-processing
• Development of SME parks
• Development of Industrial &technology parks
• Development of Iron and mini steel mills
• Leather manufacturing
• Textiles & Garments manufacturing
Investment Opportunities
SEPTEMBER 2014
Investment Opportunities
2 x 70MW Olkaria V
Isiolo 50MW Wind Power by 2016
2 x 140MW Olkaria VI & VIII
Implementation of 400MW Menengai Phase I Geothermal Development Project
Implementation of 800MW Menengai Phase 2 Geothermal Development Project
Implementation of 800MW Bogoria-Silali Phase 1
GDC 300MW Geothermal Plant
Photo-Voltaic Solar Assembly facility
Bio-fuel production
ENERGY SECTOR
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SEPTEMBER 2014
Investment opportunities in Tourism
Development of 3 high end resort cities in Isiolo, Turkana and
Lamu
Development of International Hotel Brands to meet the growing demand for
bed capacity
Conference facilities in major cities of Nairobi, Mombasa and Kisumu
Development of Golf Resorts
Development of water-sport facilities and
marina across Kenyan water ways
Development of Tourism Training
Institutions
SEPTEMBER 2014
Ronald Ngala Utalii College Hotel – 20 Acres available
Modern Convention Centre in Nairobi CBD
Convention Centre in Mombasa - North Coast
Cable Cars in Kerio Valley
Amusement Parks
Ready to Invest Opportunities
Modern Convention Centre integrated with International standard hotels at Bomas of Kenya (82 acres available)
Development of a Lake View Resort in Kisumu, the third largest city in the region (20 acres available)
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SEPTEMBER 2014
SEPTEMBER 2014
Incentives
100% to 150% investment allowance depending on location
(For investment of over USD 2.4M)
Duty Exemption and VAT waiver
on plant and machineries
Manufacturing Under Bond
Program
EPZ program; SEZ program
under development
Capital goods Zero rated
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SEPTEMBER 2014
Market Access Incentives 20% local sales to EAC market (upon
payment of all taxes). To be
increased under SEZs.
Duty free Access to USA for 6,000 +
products under AGOA(GSP)
Duty free Access to EU market
under Economic Partnership
Agreement (EPA)
Duty free or Preferential access to 18
counties under COMESA FTA & common market
SEPTEMBER 2014
Guarantees to Investors
Kenya Constitution
Guarantees against expropriation of private property except for
purposes of public use or security
Removal of exchange Controls Guarantees investors repatriation of
capital, profits and interests
Member of the international
Centre for settlement of
investment disputes (ICSID)
Arbitrates cases between foreign investors and host governments
Member of the Africa Trade
Insurance Agency (ATIA)
Which insures investors against political risks
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SEPTEMBER 2014
Investment Enablers
Provision of Supportive Policy and Legal Environment (PPP Act 2013)
An established PPP Secretariat at National Treasury, as well as PPP Nodes in Contracting Authorities
PRIVATE PUBLIC PARTNERSHIPS
SEPTEMBER 2014
Investment Enablers
Liberalizing unconditionally the capital markets
• Foreign companies can buy stocks up to a maximum of 40% of quoted stocks , while individuals up to 5%
• Revocation of blocked funds provision
. Removed price controls and repealed the exchange control act
• Residents and non residents are allowed to open foreign currency accounts with domestic banks
• Removed restrictions on domestic borrowing by foreign owned companies
• Improving Ease of Doing Business
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SEPTEMBER 2014
Message to investors
Testimonial
• The wildlife is genuinely wild and the people are simply amazing: Chris Pomeroy
• Warm hospitality, beautiful land and animals, lovely beaches, star-filled skies, food that comes from real farms... Works for me! Mary Jane O’Loughlin
SEPTEMBER 2014 CIFIT China Kenya Business Forum
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SEPTEMBER 2014
Kenya Investment Authority (KenInvest)
Policy Advocacy
Investment Promotion
Investment Facilitation
Investor Tracking
After Care Services
Our Vision“A global leader in investment attraction”
What KenInvest will do for you …
SEPTEMBER 2014
KIICO 2014
We welcome you all to Kenya investment Conference
November 19th to 20th 2014
Kenyatta International Convention Centre ,
Nairobi
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