26 June 2018
Kenya: Market Profile
- Graph: Kenya real GDP and inflation
- Graph: Kenya GDP by sector (2016)
- Graph: Kenya unemployment rate
- Graph: Kenya current account balance
- Graph: Kenya merchandise trade
- Graph: Kenya major export commodities (2014)
- Graph: Kenya major export markets (2014)
- Graph: Kenya major import commodities (2014)
- Graph: Kenya major import markets (2014)
- Graph: Kenya trade in services
- Graph: Kenya FDI stock
- Graph: Kenya FDI flow
- Graph: Kenya short term political risk index
- Graph: Kenya long term political risk index
- Graph: Kenya short term economic risk index
- Graph: Kenya long term economic risk index
- Graph: Kenya vs global and regional averages
- Graph: Kenya major export commodities to Hong Kong (2017)
- Graph: Kenya major import commodities from Hong Kong (2017)
- Graph: Kenya merchandise exports to Hong Kong
- Graph: Kenya merchandise imports from Hong Kong
Kenya has made significant political, structural and economic reforms that have largely driven sustained economic growth, social development and political gains over the past decade. Kenya’s recent political reform stemmed from the passage of a new constitution in 2010 that introduced a bicameral legislative house, devolved county government, a constitutionally tenured Judiciary and electoral body. Devolution remains the biggest gain from the August 2010 constitution, which ushered in a new political and economic governance system. It is transformative and has strengthened accountability and public service delivery at local levels. However, its key development challenges still include poverty, inequality, climate change and the vulnerability of the economy to internal and external shocks.
Source: World Bank
2. Major Economic/Political Events and Upcoming Elections
Kenya joins its neighbours in forming a new East African Common Market, intended to integrate the region's economy.
New constitution designed to limit the powers of the president and devolve power to the regions approved in referendum.
September 2010 - June 2011
East Africa hit by worst drought in 60 years.
Suspected Somali militants raid Kenyan coastal resorts and a refugee camp, targeting foreigners.
Kenyan troops enter Somalia to attack rebels they accuse of being behind several kidnappings of foreigners on Kenyan soil. Kenya suffers several apparent reprisal attacks.
International Criminal Court rules that several prominent Kenyans must stand trial over the 2007 post-election violence.
Oil discovered. President Kibaki hails it as a ''major breakthrough''.
Deputy PM Uhuru Kenyatta and former minister William Ruto - bitter political rivals facing trial at the International Criminal Court over the 2007 post-election violence - confirm that are forming an alliance for the 2013 election.
Uhuru Kenyatta, the son of Kenya's first president, wins presidential election with just over 50% of the vote. A challenge to the results by his main rival, Prime Minister Raila Odinga, is rejected by the Supreme Court.
Deputy President William Ruto pleads not guilty at the International Criminal Court to crimes against humanity charges over the 2007 post-election violence.
Somali al-Shabab militants seize the Westgate shopping mall in Nairobi and kill more than 60 people, saying they want Kenya's military to pull out of Somalia.
Al-Shabab militants carry out a massacre at Garissa University College in northwest Kenya, killing 148 people.
Government declares a drought affecting a large part of the country to be a national disaster.
Three-month curfew is declared in coastal areas which have been hit by Al Shabaab militants.
August - October 2017
President Kenyatta is declared winner of the presidential election in August as well as the re-run in October. Although the agreement of a political truce between President Uhuru Kenyatta and the leader of the opposition will offer some short-term tailwinds to the Kenya’s political environment, underlying tensions will remain. Dissatisfaction among opposition supporters will likely fester owing to violence in the wake of the general election, and ethnic tensions will continue to pose structural threats to stability.
Source: BBC country profile
3. Major Economic Indicators
Note: e = estimate, f = forecast
Sources: IMF, World Bank
4. External Trade
4.1 Merchandise Trade
Sources: WTO, World Bank WITS database
4.2 Trade in Services
Note: e = estimate
5. Trade Policies
- Kenya has been a WTO member since 1 January 1995 and a member of GATT since 5 February 1964.
- Deepening regional integration at the East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA), Tripartite Free Trade Area (TFTA) and the Continental Free Trade Area (CFTA) are part of the country's long term goals that will yield benefits for the trading environment.
- There is increasing emphasis on improving intra-regional trade and the Kenyan government has been at the forefront of major regional infrastructure development to realise this aim. In a fresh bid to open up their borders and facilitate investment and trade, Kenya and Ethiopia's leaders agreed to remove various barriers that impede business development and intra-regional trade. Changes made include relaxed rules on residence for investors, streamlined application procedures for Kenyan companies seeking to invest in Ethiopia, as well as relaxed work permits. Over the medium term, Kenyan investors venturing into Ethiopia should expect fewer restrictions to their business once an agreement signed by the two countries is implemented.
- In addition, in 2017, Kenya and Tanzania opened the modern Holili/Taveta border post to facilitate regional trade. This marks the first modern border post to be operated among the 13 one-stop border posts in East Africa and South Sudan. Authorities from both countries expect that the facility will reduce the cost of doing business by 40% and accelerate regional integration and economic growth among the East African member states. While non-tariff barriers remain a major challenge across the borders, the facility will enhance integrated border management to increase the free flow of movement and goods. In addition, further changes were implemented such as opening the port of Mombasa for 24 hours and reducing the frequency of road blocks, which reduce import and export lead times and costs.
- In October 2016, South Africa and Kenya moved to soften trade and visa barriers between the two regional powerhouses as part of ongoing efforts to boost low levels of commerce within SSA. Kenya brought forward issues such as the need for reduced taxes on Kenyan products and improved labour mobility between the two states.
- Kenya is a member of the East African Community (EAC) which gives businesses in the country access to a large market with reduced trade costs. EAC Member States have signed a Protocol to establish a common Customs Union. It is also a member of the Common Market for Eastern and Southern Africa (COMESA), where exports and imports within member countries enjoy preferential tariff rates. Burundi, Rwanda, Tanzania and Uganda are on the UN’s list of Least Developed Countries (LDCs), while Kenya is a non-LDC.
- Kenya has also signed bilateral trade agreements with several countries including Argentina, Bangladesh, Nigeria, Bulgaria, China, Comoros, Congo (DRC), Djibouti, Egypt, Hungary, India, Iraq, Lesotho, Liberia, Netherlands, Pakistan, Poland, Romania, Russia, Rwanda, Somalia, South Korea, Swaziland, Tanzania, Thailand, Zambia, and Zimbabwe. Additional agreements are under negotiation with several additional countries, including Belarus, Czech Republic, Ethiopia, Eritrea, Iran, Kazakhstan, Mauritius, Mozambique, and South Africa. Increasing trade partners will provide a solid basis for durable export and import growth in the long run.
- In addition, a Railway Development Levy has been in place since 2013, imposing a 1.5% tariff on all imported products. Non-tariff barriers to trade, including high levels of bureaucracy, delays at customs clearance and port congestion, adding further costs to imports for businesses.
- Non-tariff barriers include the requirement to obtain a Certificate of Conformity from a Kenya Bureau of Standards appointed pre-export verification of conformity (PVoC) partner and the obligation to obtain an Import Standards Mark (ISM) for a list of sensitive products imported into Kenya. Foreign firms may find packaging and labelling requirements difficult to meet.
- Kenya applies tariffs based on the international harmonised system (HS) of product classification, and applies duties and tariffs of the EAC Common External Tariff. In general, customs duty is levied at rates between 0% and 100%. Imports into Kenya are subject to a standard VAT rate of 16%, levied on the sum of the CIF value, duty, and other applicable taxes. The average tariff rate in Kenya stands at 8.9% which is the fourth highest in East Africa (after Sudan, Djibouti and Ethiopia).
- In September 2016, Kenya's Parliament ratified the Economic Partnership Agreement (EPA) with the European Union (EU) that will allow Kenya to export its agricultural products to Europe in a move to securing duty-free market access to the EU.
- In 2016, Kenya had a safeguard in operation that allows it to limit imports of duty-free sugar to 350,000 tonnes annually. The safeguard was designed to allow the Kenyan government to increase the competitiveness of its sugar industry, though this has not happened. In February 2016, this safeguard was extended again.
Source: WTO - Trade Policy Review
6. Trade Agreement
6.1 Multinational Trade Agreements
- Kenya is part of the Common Market for Eastern and Southern Africa (COMESA), a collective of 19 countries under a free trade area, with most members having an open border for traded goods and services. Notably this group comprises of Kenya, Burundi, Comoros Islands, DRC, Djibouti, Egypt, Eritrea, Ethiopia, Libya, Madagascar, Malawi, Mauritius , Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.
- Kenya is a member of the East African Community (EAC) which gives businesses in the country access to a large market with reduced trade costs. EAC Member States have signed a Protocol to establish a common Customs Union. The Customs union aids regional trade flows and allows businesses to use Kenya as an entry point for the East African market. Trade with neighbouring states is substantial.
- EAC-US - The US is a major export market and the Trade and Investment Framework Agreement and Africa Growth and Development Act (AGOA) removed tariffs for some product exports to the US (such as textiles), reducing trade barriers. Kenya qualifies for duty free access until 2025 to the US market under AGOA. Some of Kenya's major products that qualify for export under AGOA include textiles, apparels, and handicrafts. Under the Generalized System of Preferences, a wide range of Kenya's manufactured products are entitled to preferential duty treatment in the US, Japan, Canada, New Zealand, Australia, Switzerland, Norway, Sweden, Finland, Austria, and other European countries. In addition, no quantitative restrictions are applicable to Kenyan exports on any of the 3,000-plus items currently eligible for GSP treatment.
The East African Community (Burundi, Kenya, Rwanda, Tanzania, and Uganda) finalised the negotiations for an Economic Partnership Agreement (EPA) with the EU on 16 October 2014. Kenya and Rwanda signed the EPA in September 2016, and Kenya has ratified it. For the EPA to enter into force, the three remaining EAC members need to sign and ratify the agreement. EU states are key trade partners and the Economic Partnership Agreement facilitates access to this large market. Exports from Kenya entering the EU are entitled to duty reductions and freedom from all quota restrictions. Trade preferences include duty-free entry of all industrial products as well as a wide range of agricultural products including beef, fish, dairy products, cereals, fresh and processed fruits, and vegetables.
Sources: WTO Regional Trade Agreements database, COMESA
7. Investment Policy
7.1 Foreign Direct Investment
7.2 Foreign Direct Investment Policy
- Foreign ownership of financial services and telecommunications companies is capped at 78% and 80%, respectively, though the state permits telecommunications companies three years in which to find local investors to meet the ownership requirements. The Private Security Regulations Act (2016) restricts foreign participation in the private security sector by requiring that at least 25% of shares in private security firms be held by Kenyans.
- Kenya Investment Authority (KenInvest) is a statutory body established in 2004 through an Act of Parliament (Investment Promotion Act No. 6 of 2004) with the main objective of promoting investments in Kenya. It is responsible for facilitating the implementation of new investment projects, providing After Care services for new and existing investments, as well as organizing investment promotion activities both locally and internationally. The core functions of KenInvest include; Policy Advocacy; Investment Promotion; Investment Facilitation which includes Investor Tracking and After Care Services.
- The minimum foreign investment to qualify for investment incentives is USD100,000.
- Foreigners cannot own land in Kenya, though they can lease it in 99-year increments.
- The new Mining Act (2016) restricts foreign participation in the mining sector. Among other restrictions, it reserves the acquisition of mineral rights to Kenyan companies, and requires 60% Kenyan ownership of mineral dealerships and artisanal mining companies.Companies providing engineering services in the mining sector must be entities primarily of a Kenyan origin and registered with the designated contracting bodies, or foreign engineering consultants working in collaboration with local entities licenced to provide such engineering services in Kenya. The newly imposed requirements emphasise that expatriate or foreign engineering companies cannot be directly contracted anymore without the consent of the Cabinet Secretary for Mining and the Engineering Board of Kenya.
In scenarios when there are no qualified local Kenyan entities capable of providing the necessary engineering services, the Cabinet Secretary of Mining alongside other relevant regulatory bodies might permit the direct contracting of foreign/expatriate engineering entities to take place. Reconnaissance, retention and prospecting licence holders will also be required to have their exploration reports prepared and signed by a geologist recognised by the Geologists Registration Board of Kenya.
- The Kenya Insurance Act (2010) restricts foreign capital investment to two thirds with no single person controlling more than 25% of an insurers' capital. As according to the new regulation, insurance can no longer be placed offshore without the written approval of the Insurance Regulatory Authority of Kenya.
- In 2015, the government established regulations requiring that Kenyans own at least 15% of the share capital of derivatives exchanges, through which derivatives such as options and futures can be traded.
- Public Procurement - In January 2016, the new Public Procurement and Asset Disposal Act (2015) came into force offering preferences to firms owned by Kenyan citizens and to products manufactured or mined in Kenya. For tenders funded entirely by the government with a value of less than KES50mn (approximately USD500,000), the preference for Kenyan firms and goods is exclusive. Where the procuring entity seeks to contract with non-Kenyan firms or procure foreign goods, the act requires a report detailing evidence of an inability to procure locally. The act also calls for at least 30% of government procurement contracts to go to firms owned by women, youth, and persons with disabilities. The act further reserves 20% of procurement contracts tendered at the county level to residents of that county. With the support of the World Bank and in collaboration with the Kenya ICT Board, the Public Procurement Oversight Authority (PPOA) is developing a web-based Market Price Index to increase transparency in public procurement and implementation of the new act.
- Privatisation is carried out through public bidding.
- While Kenya's Export Processing Zones (EPZ) are focused on encouraging production for export, the not yet fully established special economic zones (SEZs) are designed to boost local economies by offering benefits for goods that are consumed both internally and externally. The Second Medium Term Plan of Kenya's Vision 2030 economic development agenda calls for establishing SEZs in Mombasa, Lamu, Kisumu, and eventually to additional towns throughout the country. A SEZ near Naivasha is also under consideration. It would be located near the Olkaria geothermal power plant where manufacturers would benefit from cheaper and reliable power. The SEZs will allow for a wider range of commercial ventures, including primary activities such as farming, fishing, and forestry. The Special Economic Zones Regulations that came into effect in August 2016 state that the Special Economic Zone Authority (SEZA) must maintain an open investment environment to facilitate and encourage business by the establishment of simple, flexible, and transparent procedures for investor registration. More importantly, new rules also empower county governments to set aside public land for establishment of industrial zones. These are broadly longer term development goals as the SEZs remain in the planning stage (in 2018).
- Businesses operating in the country stand to benefit from a host of other incentivising measures. The Kenyan government provides the right for foreign and domestic private entities to establish and own business enterprises and engage in all forms of remunerative activity. In an effort to encourage foreign investment, Kenya repealed regulations in 2015 that imposed a 75% foreign ownership limitation for firms listed on the Nairobi Securities Exchange, allowing such firms now to be 100% foreign-owned. The Kenyan government also allows all locally financed materials and equipment for use in construction or refurbishment of tourist hotels to be zero-rated for purposes of vat calculation - excluding motor vehicles and goods for regular repair and maintenance. The National Treasury principal secretary, however, must approve such purchases. Aircraft and aircraft parts, tractors, inputs for solar manufacturing, and services relating to goods in transit are fully exempt from VAT.
- Investors in metal manufacturing and products and the hospitality services sectors are able to deduct from their taxes a large portion of the cost of buildings and capital machinery. The government's Manufacturing Under Bond (MUB) program, provides a 100% tax deduction on plant machinery and equipment and raw materials imported for production of goods for export. The program is also open to Kenyan companies producing goods that can be imported duty-free or goods for supply to the armed forces or to an approved aid-funded project.
- Telecommunications regulator Communications Authority requires 20% Kenyan shareholding within three years of receiving a license.
Sources: WTO - Trade Policy Review, The International Trade Administration (ITA), U.S. Department of Commerce
7.3 Free Trade Zones and Investment Incentives
|Free Trade Zone/Incentive Programme||Main Incentives Available|
|Kenya's Export Processing Zones (EPZ) and Special Economic Zones (SEZ) offer special incentives for firms operating within their boundaries. By the end of 2015, Kenya had 57 designated EPZs with 89 companies. The proposed Textile City, to be set up at the Athi River EPZ, is expected to attract more than 100 textile investments, but progress on the project has been slow.||- Businesses in EPZs must be export-focused and will pay normal tariffs and duties on goods distributed to the domestic market. Companies operating within an EPZ benefit from a 10-year corporate-tax holiday and a 25% tax thereafter.|
- A 10-year withholding tax holiday and Stamp duty exemption
- 10-year withholding tax exemption on dividends and remittances paid to non-residents
- 100% investment deduction on capital expenditure for 20 years
- Exemption from customs duties on imported inputs
- VAT exemption on industrial inputs
- Streamlined licensing procedures under EPZ Authority
- Expedited customs procedures
- 24-hour security
|Special Economic Zones (proposed)||Companies operating in SEZs will receive the following benefits:|
- All SEZ supplies of goods and services to companies and developers will be exempted from VAT
- The corporate tax rate for enterprises, developers, and operators will be reduced from 30% to 10% for the first 10 years and 15% for the next 10 years
- Exemption from taxes and duties payable under the Customs and Excise Act (2014), the Income Tax Act (1974), the EAC Customs Management Act (2004), and stamp duty
- Exemption from advertisement and license fees levied by county governments
Sources: Government of Kenya, BMI
8. Taxation – 2017
- Value Added Tax: 16%
- Corporate Income Tax: 30%
Source: PwC Taxes at a Glance 2017
8.1 Business Taxes
|Type of Tax||Tax Rate and Base|
|Corporate Income Tax||30% on profits for resident companies|
|Capital Gains Tax||5.0% on transfer of property|
|Withholding Taxes||- 10% on dividends paid to non-residents, 5% on dividends paid to residents or citizens of other states in the East African Community (EAC) |
- 15% on interest
- 20% on royalties paid to non-residents, 5% on royalties paid to residents
- 20% on natural resource income
- 10% on sales of property or shares by oil and gas and mining companies
- 20% for Management, Professional and Training Fees for non-residents, 15% for residents and EAC citizens
- 30% on rental income from real estate
|Social security contributions||5.0% on gross salaries, paid by the employer (maximum contribution of KES200) and 5% on gross salaries, paid by the employee (maximum contribution of KES200)|
|Value Added Tax (VAT)||16% on sale of goods and services|
|Railway Development Levy||1.5% on value of imported goods|
9. Foreign Worker Requirements
9.1 Localisation Requirements
Though there are no strict performance requirements (even in special economic zones) - labour regulations generally continue to restrict the employment of foreign nationals, particularly in low-skilled sectors - despite a large increase in the country's migrant population. The National Construction Authority Act (2011) imposes local content restrictions on foreign contractors, defined as companies incorporated outside Kenya or with more than 50% ownership by non-Kenyan citizens. The act requires foreign contractors to enter into subcontracts or joint ventures assuring that at least 30% of the contract work is done by local firms.
9.2 Obtaining Foreign Worker Permits
Work permits are required for all foreign nationals intending to work in Kenya. Recent policy changes also mandate assured income of at least USD24,000 annually for the issuance of a work permit.
Firms in agriculture, mining, manufacturing, or consulting sectors can avoid this with a special permit.
Work permits are classified in different categories that are in some cases further subdivided into sub-categories. Work permit fees can cost up to USD3,000 and do not distinguish between foreigners and EAC citizens. However, Kenya and Rwanda have exempted EAC citizens from work permit fees. Although businesses may choose to transfer these costs to the employee, other permit costs are less avoidable.
9.3 Special Skills
The Kenyan government issues permits for key senior managers and personnel with special skills not available locally. Firms seeking to hire expatriates must demonstrate that the requisite skills are not available locally through an exhaustive search, although the Ministry of Labour plans to replace this requirement with an official inventory of skills that are not available in Kenya. A permit can cost up to KES200,000. Firms must also sign an agreement with the government describing training arrangements for phasing out expatriates.
9.4 Visa/Travel Restrictions
The Kenyan government encourages investments in sectors that create employment, generate foreign exchange and create forward and backward links with rural areas. Some nationalities are required to have visas for tourist and business visits, although citizens of many African and Caribbean states do not need one. Citizens of the following countries do not require a visa for up to 90-day stays in Kenya (30 days for Kenya and South Africa): The Bahamas, Barbados, Belize, Botswana, Brunei Darussalam, Burundi, Cyprus, Dominica, Fiji, The Gambia, Ghana, Grenada, Jamaica, Kiribati, Lesotho, Maldives, Malawi, Kenya, Malta, Mauritius, Namibia, Nauru, Papua New Guinea, Rwanda, Tanzania, Tonga, Trinidad & Tobago, Tuvalu, Samoa, Seychelles, Sierra Leone, Singapore, Solomon Islands, South Africa, St Kitts and Nevis, St Vincent and the Grenadines, St Lucia, Swaziland, Uganda, Vanuatu, Zambia and Zimbabwe.
9.5 Regional Travel
In addition, residents of the EAC can obtain an East African passport that allows them multiple entries to EAC member states (Kenya, Uganda, Tanzania, Burundi and Rwanda) for renewable six-month periods. The EAC Common Market Protocol also provides for the mutual recognition of academic and professional qualifications. Various professional bodies such as those regulating accounting have developed mutual recognition agreements to enable labour mobility in professional services. In addition, the Inter-University Council for East Africa has developed an East Africa Qualifications Framework to assist with the harmonisation of education and training systems, skills competencies and qualifications.
10.1 Sovereign Credit Ratings
|Rating (Outlook)||Rating Date|
|Standard & Poor's||B+||19/11/2010|
Sources: Moody's, Standard & Poor's, Fitch Ratings
10.2 Competitiveness and Efficiency Indicators
|Ease of Doing Business Index ||108/189||92/190||80/190|
|Ease of Paying Taxes Index||76/189||90/190||92/190|
|Logistics Performance Index ||42/160||N/A||N/A|
|Corruption Perception Index||145/176||143/180||N/A|
|IMD World Competitiveness||N/A||N/A||N/A|
Sources: World Bank, IMD, Transparency International
10.3 BMI Risk Indices
|Economic Risk Index Rank||100/202|
|Short-Term Economic Risk Score||50.8||42.3 ||47.5 |
|Long-Term Economic Risk Score||50.5||49.5||52.3|
|Political Risk Index Rank||116/202|
|Short-Term Political Risk Score||53.8||45.4||54.6 |
|Long-Term Political Risk Score||53.9||58.9||58.9|
|Operational Risk Index Rank||136/201|
|Operational Risk Score||40.2||39.9||40.7 |
Source: BMI Research
10.4 BMI Political and Economic Risk Indices
BMI Risk Summary - Q2 2018
Kenya's political risk rating is undermined by the threat of terrorism and the politicisation of ethnic identity. Kenya has been a target of attacks staged by the militant group al-Shabaab and its security forces continue to struggle to contain the threat posed by the group. Political leaders frequently appeal to ethnic identity, with political violence a persistent risk, particularly around elections. Additionally, disputes between local officials and the central government weigh on policy enforcement.
Kenya's relatively low economic risk ratings are the result of large deficits in its current and fiscal accounts. Furthermore, the shilling is susceptible to periods of high volatility that can feed through into inflation and undermine investor sentiment. That said, Kenya dominates the East African Community trade bloc and serves as the region's logistics hub, which will allow it to leverage the region's rising prospects in the coming years.
Kenya is set to consolidate its status as a key regional trade hub and we expect it will become an increasingly attractive location for investment in East Africa in the long term. Our positive medium-long term outlook is supported by the government's commitment to implementing bureaucratic reforms and large-scale infrastructure development projects aimed at boosting regional integration and economic diversification. In addition, Kenya boasts a large and diverse labour pool and deeper financial markets than its regional peers. However, the country performs less competitively on a global scale, largely due to the country's fragile security landscape and the prevalence of corruption. In addition, businesses operating in the country face globally uncompetitive operating costs due to high legal risks, unreliable utilities underscored by considerable infrastructure gaps, as well as increasing levels of government intervention, particularly in the banking sector.
10.5 BMI Operational Risk Index
|Operational Risk||Labour Market Risk||Logistics Risk||Trade and Investment Risk||Crime and Security Risk|
|Kenya Score||40.7||44.2||49.0 ||45.4||24.1|
|East Africa Average||32.2||40.7||31.1||33.2||23.7|
|East Africa Position (out of 11)||2||3||1||2||6|
|SSA Position (out of 48)||9||10||6||10||36|
|Global Average||49.8||49.8||49.3 ||50.0||49.9|
|Global Position (out of 201)||136||135||100||126||179 |
Note: 100 = Lowest risk, 0 = Highest risk
Source: BMI Operational Risk Index
|Country||Operational Risk Index||Labour Market Risk Index||Logistics Risk Index||Trade and Investment Risk Index||Crime and Secruity Risk Index|
|Rwanda||50.0||51.4||41.6 ||56.5||50.7 |
|Emerging Markets Averages||46.8||48.0||45.8||47.5||46.1|
|Global Markets Averages||49.8||49.8 ||49.3||50.0 ||49.9|
Note: Higher score = Lower risk
Source: BMI Operational Risk Index
11. Hong Kong Connection
11.1 Hong Kong’s Trade with Kenya
|Number of Kenyan residents visiting Hong Kong||6,868|
|Number of Kenyan residents in Hong Kong||N/A||N/A|
Sources: Hong Kong Immigration Department , BMI
11.2 Commercial Presence in Hong Kong
|Number of Kenyan companies in Hong Kong||N/A ||N/A|
|- Regional headquarters|
|- Regional offices|
|- Local offices|
11.3 Treaties and agreements between Hong Kong and Kenya
Hong Kong has concluded airline income treaties with Kenya.
11.4 Chamber of Commerce (or Related Organisations) in Hong Kong
Consulate of the Republic of Kenya in Hong Kong SAR
Address: Flat 1201A, 12 floor Tower 1, Admiralty Centre, 18 Harcourt Road, Admiralty, Hong Kong
Hours of Business: Mon-Fri: 9:00 a.m. - 5:00 p.m., Sat: 9:00 a.m. - 1:00 p.m.
Consul General: Dr Tam Wing-kun, Honorary Consul
Tel: (852) 2520 5000
Fax: (852) 2520 1600
11.5 Visa Requirements for Hong Kong Residents
Hong Kong country is not in the exempt country list for Kenya visa, so Kenya visa is required, type of visa:
- e-Tourist Visa 90 days, single-entry
- Business Visa 90 days, single-entry
- Transit Visa 72 hours, single-entry