The economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, it plans to be a newly industrialised nation by 2030. Major industries include agriculture, forestry, fishing, mining, manufacturing, energy, tourism and financial services. As of 2020, Kenya had the third largest economy in Sub-Saharan Africa, behind Nigeria and South Africa.
Nairobi is the capital and largest city of Kenya. The name is derived from the Maasai phrase Enkare Nairobi, which translates to 'place of cool waters', a reference to the Nairobi River which flows through the city. The city proper had a population of 4,397,073 in the 2019 census. The city is commonly referred to as The Green City in the Sun.
The United Nations Industrial Development Organization (UNIDO) is a specialized agency of the United Nations that assists countries in economic and industrial development. It is headquartered at the UN Office in Vienna, Austria, with a permanent presence in over 60 countries. As of April 2019, UNIDO comprises 170 member states, which together set the organization's policies, programs, and principles through the biannual General Conference.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business. It was established as an intergovernmental body of the United Nations Economic Commission for Europe (UNECE) in 1996 and evolved from UNECE's long tradition of work in trade facilitation which began in 1957.
The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burundi, Rwanda, South Sudan, and Uganda. Évariste Ndayishimiye, the president of Burundi, is the current EAC chairman. The organisation was founded in 1967, collapsed in 1977, and was revived on 7 July 2000.
In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. This process turns the promise of payment into the actual movement of money from one account to another. Clearing houses were formed to facilitate such transactions among banks.
The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya. The exchange had 66 listed companies in February 2021.
The single-window system or single-window concept is a trade facilitation concept which allows an international (cross-border) trader to submit information to a single agency, rather than having to deal with multiple agencies in multiple locations to obtain the necessary papers, permits, and clearances to complete their import or export processes. There is an obvious time saving benefit to the single window system. The concept is recognised by organisations such as the United Nations Economic Commission for Europe (UNECE) and its Centre for Trade Facilitation and Electronic Business (UN/CEFACT), World Customs Organization (WCO), the United Nations Network of Experts for Paperless Trade and Transport in Asia and the Pacific (UNNExT), and the Association of Southeast Asian Nations (ASEAN).
Success in export markets for developed and developing country firms is increasingly affected by the ability of countries to support an environment which promotes efficient and low cost trade services and logistics. Policies related to trade facilitation and economic development reflect the idea that trade can be a powerful engine for accelerating economic growth, job creation, and poverty reduction.
China–Kenya relations refer to the bilateral relations between the People's Republic of China and Kenya. The two countries established relations in 1963, suspended ties temporarily in 1967, but ultimately re-established diplomatic relations in 1978. Since then, they have significantly expanded their economic and investment agreements, such that China is currently Kenya's largest trading partner. While the robust trade, investment, and Chinese-led infrastructure projects have benefitted Kenya's overall development and have been labelled by both governments as "win-win" collaborations, local media and foreign analysts have increasingly criticized both the potential consequences of Kenya's loans from China as well as Kenya's overall economic dependence on foreign capital and products. The most ambitious collaboration, the Standard Gauge Rail that was planned to connect Nairobi, Kenya, Uganda, South Sudan, and Rwanda using Chinese financing and contractors, has attracted even more controversy due to financial complications, questions on the legality of its tinder process, and the alleged collateralization of Kenya's Mombasa port.
Kenya Vision 2030 is a Kenyan development program, aiming to raise the average standard of living in Kenya to middle income by 2030. It was launched on 10 June 2008 by President Mwai Kibaki. Developed through "an all-inclusive and participatory stakeholder consultative process, involving Kenyans from all parts of the country," the Vision is based on three "pillars": Economic, Social, and Political. The Vision's adoption comes after the country's GDP growth went from 0.6% in 2002 to 6.1% in 2006, under Kibaki's Economic Recovery Strategy for Wealth and Employment Creation (ERS).
TravelSky Technology Limited is the dominant provider of information technology services to the Chinese air travel and tourism industries. Its clients include airlines, airports, air travel suppliers, travel agencies, individual and corporate travel consumers and cargo services. It is listed on the Hong Kong stock exchange and its majority shareholder or parent group is the China TravelSky Holding Company, a State-owned enterprise (SOE).
This article covers the best practices and needs for reform in entrepreneurship policies in Egypt.
The State Customs Committee of Azerbaijan Republic is a governmental agency within the Cabinet of Azerbaijan in charge of customs clearance for imports and exports, and regulation of all customs activities within Azerbaijan Republic. The committee is headed by Safar Mehdiyev.
Bilateral relations exist between Australia and Kenya. Both Australia and Kenya were formerly part of the British Empire, although not simultaneously, and are current member states of the Commonwealth of Nations. As of 2020, both Commonwealth nations have maintained bilateral relations for 55 years.
The National Land Commission of Kenya is an independent government commission whose establishment was provided for by the Constitution of Kenya to, amongst other things, manage public land on behalf of the national and county governments, initiate investigations into present or historical land injustices and recommend appropriate redress, and monitor and have oversight responsibilities over land use planning throughout the country. NLC was officially established under The National Land Commission Act of 2012.
Paperless trade refers to “trade taking place on the basis of electronic communications, including exchange of trade-related data and documents in electronic form” in the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, adopted at United Nations Economic and Social Commission for Asia and the Pacific in May 2016.
Kenya Advanced Institute of Science and Technology is a planned postgraduate-only public university under construction in Kenya, the largest economy in the East African Community. The establishment of the university is aimed at meeting the shortage of highly skilled engineers, needed in the country and the region, to drive Kenya into an industrialized nation by 2030.
The domain of international space politics gained significant traction during the Cold War. This was largely fuelled by the ongoing space race between the USA and the USSR. At this time in history, space exploration was an endeavour largely restricted to the global superpowers and seemed out of reach for many smaller, developing, nations to actively participate in. Subsequently, public concerns for the cost of research and development into novel space technologies did not receive sufficient policy and academic attention in Africa. As the Cold War reached its conclusion, political power began to diffuse across the world, and this led to many smaller nation states developing national and regional space capabilities. In the context of Africa, Nigeria, Algeria, Egypt and South Africa were the front-runners in terms of investments into space-related research and development.
