Introduction
Kenya’s economic performance has been on the rise steadily between 2012 and 2024. According to the African Development Bank, the GDP grew by 5.6% in 2023 and is predicted to grow by 5.4% in 2024 and 5.6% in 2025. Currently, Kenya is ranked as the third most preferred destination for multinational companies in Africa, after Nigeria and South Africa, making it an attractive location for businesses looking to expand into the East African market.
In 2020, Kenya was ranked 56th globally in the World Bank’s Doing Business report, which reflects an average score across various sectors and factors considered.
The segments of note are protection of minority investors in which Kenya ranked first globally, getting credit which garnered 4th position globally, and resolving insolvency which got 50th position globally. These segments are not usually talked about as much as starting a business, registering property and trading across borders; yet they rank among the highest in the overall doing business score.
