Economics in Kenya
Kenya, as a long-standing political and economic partner, has - compared to other African countries - a sound economic base and a well-trained workforce in the manufacturing sector.
This positive development changed drastically with the post-election crisis in January 2008 which immediately influenced the Kenyan economy, in particular the agriculture and tourist sectors.
Since then the tourism sector recovered very well and registered almost 1.3 million visitors in 2011, more tourists than ever before. Furthermore, in 2011 a large proportion of income came through the export of agricultural goods (tea, coffee, flowers). Noticeably, the production for tea and coffee was less; however, due to the high global market prices there was still an increase in income.
So far, Kenya is considered to have great development potential as a regional business hub. Germany is a long-standing partner with Kenya, although it only ranks on number 99 in import and 95 in export. However, Germany accounts for a significant number of foreign tourists visiting the country.
Germany has a very well structured economic exchange which is reflected by many German institutions and companies located in Kenya. The main institutions are the Germany Trade and Invest GmbH, the KfW, the DEG as well as the German Business Association (GBA) representing the private sector.
The task of the German Embassy is to help and foster the growth of the global free market and also to protect and promote German economic interests.
However, the Embassy can enhance basic conditions for companies and assist them to find new markets abroad. To this effect, the German Embassy is closely co-operating with Kenyan economic institutions and companies. Support is extended by the Embassy's Economic and Commercial Affairs Department.
To express the strong economic relations between the two countries Germany's chancellor Angela Merkel paid a visit to Kenya in July 2011. During this visit an Agreement between both countries was signed to establish a delegation of German Industry and Commerce in Nairobi. The delegation started its work in March 2012.