Trade

Trade contributes enormously to Kenya’s Gross Domestic Product (GDP) through exports, imports and employment creation among other channels. In addition, the trade sector contributes to the realization of Millennium Development Goal (MDG) 8 on Developing Global Partnerships for Development by improving market access locally and internationally therefore stimulating rapid expansion of international trade. The sector accounts for 10% of GDP and will be key in delivering the targeted 10% economic growth.
The Vision 2030 for wholesale and retail trade is to raise earnings by giving our large informal sector opportunities to transform itself into part of the formal sector that is efficient, multi-tiered, diversified in product range and innovative. This will be realised through: (i) training and credit (ii) improving efficiency by reducing the number of players between the producer and the consumer; (iii) creating formal market outlets for small-scale operators who will then graduate from the informal sector; (iv) encouraging more investment in retail trade; (iv) developing an outreach programme to expand retail trade; and (v) developing training programmes to improve retail skills.

Kenya aims to become the top off-shoring destination in Africa. BPO will, therefore, become the sector of choice for employment for youth and young professionals. The country will move quickly to establish the necessary capacity in the sector through: (i) attracting at least five major leading information technology (IT) suppliers, and at least ten large multinational companies and global BPO players to the country; and (ii) strengthening at least five local players to become local champions through stand-alone operations or joint ventures

Full implementation of the Customs Union and implementation of the Common Market Protocol are key issues for the Government of Kenya. Kenya is the largest economy in East Africa. It has the 3rd largest financial sector in Africa, a strong manufacturing base and is critical for communications; what happens in Kenya influences strongly the wider region. It is also the coastal link for landlocked countries of the East African Community and the main transit country for both imports and exports. The country therefore plays a big in the integration process.

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