BELGIAN TRADE & INVESTMENT MISSION Venue: Southern Sun May. Fair Hotel Date: 23 rd November, 2015 Mr Pius Rotich General Manager – Investment Promotion Kenya Investment Authority BELGIAN BUSINESS FORUM 17/11/14
Kenya’s Presidency welcomes you… HIS EXCELLENCT HON. UHURU KENYATTA, C. G. H, PRESIDENT AND COMMANDER IN CHIEF OF THE DEFENCE FORCES OF THE REPUBLIC OF KENYA HIS EXCELLENCY HON. WILLIAM RUTO DEPUTY PRESIDENT OF THE REPUBLIC OF KENYA On behalf of the citizens of the Republic of Kenya, the Presidency, WELCOMES YOU ALL to invest in Kenya and work inclusively to raise the Country’s economic development plan. The government is keen on making Kenya an BUSINESS FORUM attractive investment destination for investors across BELGIAN 17/11/14 the globe.
Kenya Investment Authority (Ken. Invest) Our Mandate Kenya Investment Authority (Ken. Invest) is a statutory body established in 2004 through an Act of Parliament (Investment Promotion Act No. 6 of 2004) to promote and facilitate investments for both domestic and foreign investors. Our Vision To Make Kenya a Country of Choice for Investments Our Mission To Attract, Facilitate, Retain and Expand both Domestic and International Investments in Kenya through Provision of Quality Services 3
INVESTOR SUPPORT: Our Core functions & Services Investment Promotion • Providing information on investment opportunities or sources of capital; • Promoting the opportunities for investment available in Kenya by organizing forums, workshops and other marketing initiatives; Investment Facilitation • Investor Tracking and After Care Services; • Assisting in Issuing Investment Certificates; • Assisting in obtaining necessary licenses and permits; and • Assisting in obtaining incentives or exemptions under various Acts of Law and other regulations. Policy Advocacy • Reviewing the investment environment and making recommendations to Government and other stakeholders, with respect to changes that would promote and facilitate investment, including changes in licensing requirements Facilitate Joint Venture between Local & Foreign investors 4
Investment Opportunities based on: Kenya Vision 2030… Overall vision A globally competitive and prosperous nation with a high quality of life by 2030 Vision Strategy Plans and implementation Economic To maintain a sustained economic growth of 10% p. a. over the next 22 years Social A just and cohesive society enjoying equitable social development in a clean and secure environment Political An issue-based, people-centered, result-oriented, and accountable democratic political system …is the framework for the country’s long term economic, political and social stability 5
Highlights of Investment Opportunities Investment opportunities exist in the following sectors as outlined in the vision 2030 , the national blue print; 1. 2. 3. 4. 5. 6. 7. 8. 9. Agriculture/Agro- processing Manufacturing Wholesale and Retail Tourism Financial Services ICT/BPO Energy Infrastructure Water and Sewerage Ken. Invest in conjunction with investment project promoters, both public and private, are profiling the flagship projects to ease investor decision making. Investors are encouraged to visit our website for more information. BELGIAN BUSINESS FORUM 6
Transformative Projects Flagship Projects in MTP II _____________________ Pillar/Directorate No. of Flagships _____________________ Economic Pillar 34 Social Pillar 79 Political Pillar 6 Enablers and Macro Directorate 63 _____________________ TOTAL 182 _____________________ BELGIAN BUSINESS FORUM 7
Agriculture “To raise income in agricultural goods, livestock and fisheries by processing and thereby adding value to products before they reach the market” market Emphasis is placed on increasing productivity in the agriculture, livestock and fisheries sector at the same time as expanding processing activities. Projects/Opportunities: • Establishment of Disease free zones • Development of Multipurpose dams • Fisheries development and management (Lamu Fish Port) • Irrigated Agriculture Program BELGIAN BUSINESS FORUM • Agricultural Development along LAPSSET 8
Tourism “To be a top 10 haul tourist destination with a high-end, diverse and distinctive visitor experience aimed at increasing contribution to GDP” Tourism sector currently brings in: 1. 8 million Tourism Earnings in Tourism from 2008 -2012 tourists annually, intend to increase tourists to 3 million, 1. 2 M USD, intend to increase to 3 M USD Projects /Opportunities: • Development of 5 resort cities • Development of amusement parks • Business/conference tourism • Develop health medical tourism • Agro-tourism BELGIAN BUSINESS FORUM 9 • High end lodges in
Manufacturing “To become the prime supplier of basic manufactured goods ” The manufacturing sector has a strategic role in technology and innovation as it is a major channel for diffusion of new technology to other sectors of the economy. Projects/Opportunities: • Development of SME parks • Development of Industrial &technology parks • Development of Iron and mini steel mills • Energy provision for manufacturing BELGIAN BUSINESS FORUM sector 10
Wholesale & Retail “To move towards efficiency in the country’s marketing system” Formal retail: • Attract and develop large formal retail chain Supply chain: • Large wholesale hubs Domestic Trade (20082011) Flagship projects/Opportunities: • Establishment of Special Economic Zones in Mombasa • Construction of 3 wholesale hubs • Construction of 3 Tier-1 Retail Markets • Establish world class Trade, modern Exhibition and Convention centre BELGIAN BUSINESS FORUM 11
IT Enabled Services (BPO/ICT) “To be the top BPO destination for Africa” • Kenya aims to create a knowledge based economy • Ongoing project is Konza Technology City Flagship projects/Opportunities: • Software Development • ICT Habitats • Development of BPO parks • Disaster Recovery BELGIAN BUSINESS FORUM 12
Financial Services “To be a vibrant and global competitive country driving highlevels of savings and financing its investment needs” Kenya has a well developed financial Flagship projects/Opportunities: sector Establishment and implementation 112 foreign exchange bureaus of Nairobi International Financial 43 Commercial banks Centre Overall usage of financial services (%) 8 deposit taking microfinance Institutions 2 credit reference bureaus 5 Representative Offices of Foreign Banks 45 licensed insurance companies 3 locally incorporated reinsurance companies 3 Reinsurance companies 154 licensed insurance brokers BELGIAN BUSINESS FORUM 13 23 medical insurance
Energy “To generate more energy at a lower cost and increase efficiency in energy consumption” The rapid growth of the Kenyan industry and population necessitates the exploitation of alternative sources of energy. There is ongoing discovery of oil reserves in Kenya Financing agreements worth over US$870 million have been signed for the 300 MW Lake Turkana Wind Power project, planned for northern Kenya. Opportunities exist in: • • Geothermal power Wind power Rural Electrification Program Photo-Voltaic Solar Assembly facility • Bio-fuel production BELGIAN BUSINESS FORUM 14
Infrastructure & Construction “To undertake massive infrastructural development to supply the prioritized sectors” Continued development of physical infrastructure is pivotal to economic growth and lowering business costs Opportunities exist in: • Development of LAPSSET • Building housing units • Nairobi Metropolitan Mass • Rapid Transit Program • Rapid rail system • Parking system BELGIAN BUSINESS FORUM 15
Why Invest in Kenya: Kenya at a Glance… 16 16
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Why Invest in Kenya: KEY HIGHLIGHTS Kenya is a desirable investment destination due to a number of key strengths that include: 1. A regional powerhouse § Commercial centre of the East African Community; § A business and financial centre, transport hub and a regional base for investors; § Nairobi is among the 25 African cities identified as growth frontiers by the 2013 report of the Economist Intelligence Unit; § Kenya is the 2 nd best performer in the MSCI frontier stock market index for 2013, behind United Arab Emirates. Foreign participation in the stock market is now capped at 75%; § High rate of economic growth and thus growth in incomes and the size of the middle class. This is supported by promising economic reforms. The currency and macroeconomic environment in general are stable. BELGIAN BUSINESS FORUM 18
Why Invest in Kenya: KEY HIGHLIGHTS 2. A welcoming environment § Government views private sector as engine of growth; § Establishment of Ken. Invest to facilitate investors; § Business-friendly regulatory framework; § Improved governance through a modern and a progressive Constitution that has devolved governance to 47 Counties; § A fully liberalized economy without exchange and price controls. There are no restrictions on domestic and foreign borrowing by residents and non-residents; § The most developed stock market in the Eastern and Central African region i. e. the Nairobi Securities Exchange; § Enactment of the Public Private Partnership Act 2013 that came into effect on 8 th February 2013; and 3. Diversified opportunities § Investment opportunities in all sectors of the economy (see below); § Recent oil and mineral finds: 2 oil and 2 gas discoveries; great mining potential (titanium, coal, iron ore, gold, niobium, rare earths); § A deep pool of educated and skilled manpower; § An attractive and comprehensive package of incentives offered to investors. BELGIAN BUSINESS FORUM 19
Why Invest in Kenya: KEY HIGHLIGHTS Several incentives are available for investors as summarized below. However, incentives are improved from time to time, investors are encouraged to regularly visit our website for up to date information. (a) Capital Investment Allowances Capital allowances are offered to investors investing in capital projects. These are offered on a reducing balance basis and include: (i) Investment Allowance Based on Location. This is provided as follows: 150% Investment allowance for projects outside the jurisdiction of Nairobi, Kisumu and Mombasa cities and 100% investment allowance for other locations (ii) Investment Deduction. This is granted to encourage development in manufacturing industries. It is granted, once at 100% in the first year of use, to any person who incurs capital expenditure on construction of a new building and installation therein of new or old manufacturing machinery. It is also offered for the construction of a hotel that is certified to be an industrial building. BELGIAN BUSINESS FORUM 20
Guarantees to Investors • Kenya Constitution guarantees against expropriation of private property except for purposes of public use or security • No exchange controls guarantees repatriation of capital, profits and interests. • Member of the Multi-lateral Investment Guarantee Agency (MIGA), an affiliate of the World Bank that insures foreign investments against non-commercial risks • Member of the International Centre for Settlement of Investment Disputes (ICSID) which arbitrates cases between foreign investors and host governments • Member of the Africa Trade Insurance Agency (ATIA) which insures investors against political risks BELGIAN BUSINESS FORUM 21
Some of the Leading Investors in Kenya WHOLESALE AND RETAIL • Huawei • Kaspersky Lab • Cisco • Bharti Aitel Ltd • International Business Machines Corporation (IBM) • Intel Core • Google • General Electric • Nakumatt Supermarket • Uchumi Supermarket TOURISM • Sarova Hotels, Resorts & Game Lodges • African Eagle • Real Africa • Inter. Continental Hotels & Resorts • Nature Expeditions • HTT (Holidays & Incentives) BELGIAN BUSINESS FORUM 22
Some of the Leading Investors in Kenya ENERGY AND PETROLEUM • Shell • Chevron • Hass Petroleum Group • Oryx Energies • Kenol Kobil Ltd • Total Kenya Ltd • Tullow Oil MANUFACTURING • A. Baumann Co. Ltd • British American Tobacco Kenya Ltd • Carbacid Investments Ltd • East African Breweries Ltd • Eveready East Africa ltd • General Electric Ltd • Unilever Ltd • BASF Company TELECOMMUNICATION AND TECHNOLOGY • Safaricom Ltd BELGIAN BUSINESS FORUM 23
Step by Step Guide To Investing in Kenya 1. Visit www. investmentkenya. com and fill in the Investment Application Form; 2. Register your business at the Registrar of Companies; 3. Apply for Statutory Requirements: • Tax PIN /VAT Registration –visit: www. kra. go. ke • Register with the National Social Security Fund (NSSF) • Register with the National Hospital Insurance Fund (NHIF) • Acquire a Single Business Permit from the relevant Local Authority 4. Submit Application Form with copies of Certificate of Incorporation, Registration or Certificate of Compliance and Memorandum & Articles of Association to Ken. Invest; 5. Issuance of The Investment Certificate from Ken. Invest upon conforming to Health, Environment and Security requirements; 6. Once a company begins operation Ken. Invest undertakes tracking services to ensure smooth project implementation; and 7. Ken. Invest also undertakes After-Care Services to pick out investor concerns and issues. 24
Invest in Kenya, The Hub of East & Central Africa Remember to Fly Kenya Airways BELGIAN BUSINESS FORUM 25
KQ Serves over 54 Destinations Kenya’s geographical location makes the country ideal for strategic partnerships aimed at improving regional and global market share Regional market share: Kenyan infrastructure is the gateway to the vibrant East African economy and access to the 138 million population i. e. Mombasa ports, KE-UG railway, International market share: Jomo Kenyatta International Airport functions as an effective Air hub between Africa, Europe and Asia BELGIAN BUSINESS FORUM 26
Useful Contacts Ministry of the East African Affairs, Commerce and Tourism Teleposta Towers 18 th Floor P. O. Box 30430 - 00100 Tel: +254 -20 -315001 -6 info@trade. go. ke www. trade. go. ke Nairobi, Kenya Vision 2030 Delivery Secretariat (VDS) KUSCCO Center, 2 nd Floor Upper Hill, Nairobi, Kenya Tel: +254 20 2722030 Mobile: +254 0722205 424 +254 0733601184 Email: info@vision 2030. go. ke Website: www. investmentkenya. com Kenya Investment Authority P. O. Box 55704 -00200, NAIROBI, KENYA Tel: +254 730 104 200 Mobile: +254 0722205 424 +254 0733601184 Fax: +254 20 2243862 Email: info@investmentkenya. com Website: www. investmentkenya. com Export Promotion Council (EPC) 16 th Floor, Anniversary Towers, University Way P. O Box 40247 -00100 Nairobi Tel: +254 -20 -2228534/8, +254 -722205875, 734 -228534 Fax: +254 -20 -2228539/2218013 E-Mail: chiefexe@epc. or. ke Website: www. epckenya. or. ke 27
Useful Contacts MINISTRY OF FOREIGN AFFAIRS AND INTERNATIONAL TRADE Old Treasury Buildings Harambee Avenue P. O. Box 30551 - 00100, Nairobi Tel: +254 20 318888 Fax: +254 20 2240066 Email: ps@mfa. go. ke Website: www. mfa. go. ke LAPSSET CORRIDOR DEVELOPMENT AUTHORITY Deputy President’s Building Harambee Avenue P. o. Box 74434 – 00200 Nairobi, Kenya Tel: +254 (020) 317270 +254 (020) 324700 Fax +254 (020) 2210876 Cell +254 723 716842 Email: info@lapsset. go. ke Website: www. lapsset. go. ke 28 28
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