Eyeing the Manufacturing sector in Kenya as an Investment Opportunity

Through the the BIG 4 agenda, the Kenyan government is aiming to increase the manufacturing sector contribution to GDP from the current 9.2% to 20% by 2022 http://www.president.go.ke/) . This will create 1,000,000 new jobs and opportunities for domestic and international companies to invest and provide innovative solutions which will contribute to further economic growth.

According to the Ministry of Trade, Cooperatives and Industry “The Government of Kenya in recognition of the role of the private sector in spearheading industrialization has put in place a policy frame-work to foster the creation of a conducive environment for private sector participation in economic development.”

There are several factors that contribute to an enabling business environment in Kenya. Kenya Investment Authority (http://invest.go.ke/why-invest-in-kenya/) highlights some of them which include;

˜Access to markets in the region. According to KenInvest, “Kenya’s membership to regional economic blocs coupled with her strategic geographic position makes the country the gateway to the huge East African Community (EAC) market with over 135 million people and the Common Market for Eastern and Southern Africa (COMESA) market with over 450 million people.” -Skilled labor force with citizens who adapt easily to different cultures and environment -Diverse economy with numerous small-scale enterprises, medium sized businesses and multinational companies easily making innovation a platform for businesses to use in re-invent.

Manufacturing industries play essential roles in any country’s economy, as they serve as key drivers of economic growth, employment creation and innovation. As highlighted in the BIK Doing Business Guide, “The Irish manufacturing sector has strengths in a range of industries, including food, medical devices, pharma/bio pharma, ICT, engineering and green technologies. It is highly diverse sector, with a range of engineering companies whose expertise cut across different technical fields. The sector includes companies in metal and plastic processing, machine manufacturing-(including agricultural machinery), materials handling, precision engineering, process engineering, plastics and tool making, and metal fabrication and processing.”( http://www.businessireland.co.ke/doing-business/business-environment-in-ireland/)

Irish companies that focus on contributing to the manufacturing pillar of the BIG 4 agenda will have opportunities to provide their expertise and technology in the specific areas of competencies mentioned above and more.

For more in-depth information on opportunities that you could tap into as a company or entrepreneur, visit the Ministry of Trade, Cooperatives and Industry website and learn more about Kenya’s Industrial transformation programme http://industrialization.go.ke/images/downloads/kenya-s-industrial-transformation-programme.pdf .