Understand the Jurisdictions Setup Requirement Before Proceed Your Kenya Company Registration
The Republic of Kenya is a country located in the African Great Lakes region of East Africa. The country has a market-based economy and is well known as East Africa’s political, industrial, and logistics centre.
With that, Kenya attracts private equity investments primarily through its large manufacturing economy and straightforward Kenya Company Registration processes.
These are some of the reasons why companies worldwide invest and establish local and regional businesses in Kenya. However, Kenya offers more when it comes to starting up a business. Below are more of the reasons why Kenya is the ideal place to set up your business.
Business-friendly Strategic Location
Kenya’s geographical location provides stable and convenient strategic routes to East Africa. Situated in the Indian Ocean, it has access to the main sea routes of both Asia and Europe. Thus, providing business, employment, and financial opportunities to 70 per cent of all Kenyans.
Furthermore, the country became the regional financial centre and the highest among other countries in the region.
Kenya’s Excellent Market
In doing business in Kenya, one should never undermine the Kenyan market. As home to around 150 million people, Kenya has a remarkable market in the East African Community.
Besides, with the upcoming shared currency, which will proceed for the next ten years, an increase in foreign investment is anticipated. Such development would enable the economy to expand progressively.
Impressive Human Resources
Another notable reason why you should start your business in Kenya is its impressive human resources. Kenya, as a former British colony, has adopted its knowledge of the English language. Since then, English is used in businesses, schools, and the government. Consequently, it made communication with foreign businesses and investors easier. With an 88% literacy rate, Kenya has extensive available human potential.
Encouraging Start-up Businesses in Kenya
The Kenyan government has no good history of supporting start-ups. However, it recently began developing policies to help build a suitable environment to cater to emerging businesses.
The country’s efforts are laudable that recently, the IMF commended Kenya’s government for its effective fiscal policy, which kept inflation under control. Such developments help Kenya achieve better access to the international capital sector.
The Profitable Mobile Market
In the same manner, the mobile industry in the country has evolved significantly. Since 1998, mobile registrations have grown from 10 thousand to 3 million. The reason for this is the continuous growth of mobile money. Given the statistics, Kenya becomes the world’s leading market in the context of mobile money development. Kenya is a relevant location to consider for a start-up looking at the increasing demand for mobile transactions or e-commerce.
Kenyan Diversified Economy
On top of everything else, the Kenyan economy is very diverse. The steady growth in agriculture, economic, ICT, transportation, and tourism industries became the main centre and headquarters for industries in the region.
To a greater extent, Kenya also provides new doors for development in various industries. Needless to say, the Kenyan economy has risen to 500 million USD in the ICT (Information / Communication Technology) sector alone.
What to Do Next?
With all the good reasons why Kenya is the best place to start your business, you should shut off all your hesitations to register a company in Kenya.
3E Accounting offers an integrated solution to your Kenya Company Registration that enables you to start your business with realistic, clearly defined expenses and timetables. Contact us and let us know how we can help.