Kenya is the economic powerhouse of East Africa and impresses with a broad-based economy: in addition to agriculture and the consumer goods industry, the service sector is playing an increasingly important role.

Numerous FinTech companies are active in the capital Nairobi, which is one of the most important stock exchange and financial centres on the continent. The region, often referred to as ‘Silicon Savannah’, has also developed into a dynamic start-up location:

Many young companies from the GreenTech, AgriTech and logistics sectors are attracting the interest of investors. In addition, an increasing number of IT outsourcing service providers are attracting European companies that suffer from a shortage of IT specialists.

The East African Community and the port in Mombasa strengthen Kenya’s role as a regional hub – and make the country a popular location for tapping into other growth markets such as Uganda, Tanzania and Rwanda. The numerous construction and infrastructure projects, for example, also offer opportunities for German companies.

Economy. According to the World Bank, the economy grew by 4.5 per cent in 2024. For both this year and 2026, economists predict growth rates of 5.0 per cent. The gross domestic product per capita rose in the last 20 years from the equivalent of 464 to 2206 US-Dollars. Inflation recently stood at 5.2 per cent. National debt has reached around 72.4 per cent of GDP.

Population. Kenya has around 5,3 million inhabitants; the population recently grew at an annual rate of just under 2 per cent. Since 2004, the fertilty rate has fallen from 4.9 to 3.2 children per woman. Life expectancy was at 64 years recently (twenty years ago: 58). Around 76 per cent of the population has access to electricity (twenty years ago: 16 per cent).

Governance. On Transparency International’s latest Corruption Perceptions Index, Kenya ranks 121th out of 180 countries. With a score of 32 points (two points more than 2021), Kenya is on a par with countries such as Angola, Ecuador and Togo.

Sources and further information:

World Bank: https://data.worldbank.org/country/kenya

Africa Business Guide https://www.africa-business-guide.de/de/maerkte/kenia

Germany Trade & Invest: https://www.gtai.de/resource/blob/14978/a0ac5187f4bdf6e11cd453f47c6a9df5/GTAI-Wirtschaftsdaten_Dezember_2024_Kenia.pdf

Transparency International: https://www.transparency.org/en/cpi/2024/index/nga