The Republic of Kenya’s economy is in the top two in East Africa with the International Monetary Fund (IMF) predicting that Gross Domestic Product (GDP) will grow to US$151 billion by 2028, as the country targets increased industrialisation through its Kenya Vision 2030 agenda and vies for regional supremacy with Ethiopia.
Kenya also faces strong competition in the region from Tanzania and Angola to attract Foreign Direct Investment (FDI), which is vital for upgrading agriculture production, infrastructure, manufacturing and diversifying its economic landscape. The agriculture sector, including forestry and fisheries remains an important component of the economy, alongside mining, energy generation, construction and real estate, financial services and tourism.
Each new markets bring new challenges, and these can be worked through more efficiently and cost-effectively with the support of a Professional Employer Organisation (PEO) such as Bradford Jacobs, especially through our Employer of Record (EOR) framework.
This can be best utilised when businesses are just beginning their expansion process and require more information before committing to incorporating an entity and fully establishing themselves in that market.