Quartet Consulting LLP

Regional Experts
in Corporate Finance.

Kenya

Kenya

Kenya Overview

Last reviewed – 20th Nov 2024

Kenya is located along the Indian Ocean on the East coast of Africa and is bordered by Tanzania to the south, Uganda to the west, South Sudan to the northwest, Ethiopia to the north, and Somalia to the northeast.
The capital city of Kenya is Nairobi, and the official languages are Swahili and English. The official currency is the Kenya Shilling (KES).
In the last decade, the real gross domestic product (GDP) growth has averaged over 5%.
As outlined in the draft Government Budget Policy Statement 2024, the economy is projected to expand by 5.5% in 2023 and 2024 from 4.8% in 2022. This growth outlook will be supported by broad-based private sector growth, including the services sectors and agriculture.
Kenya participates in several regional initiatives and is a member of:
- East African Community (EAC)
- Common Market for Eastern and Southern Africa (COMESA)
- Intergovernmental Authority on Development (IGAD)
- African Continental Free Trade Area (AfCFTA)

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Kenya’s tax system is a critical aspect for any business to operate smoothly. Staying compliant ensures your business avoids penalties and maintains a positive reputation. Key Taxes in Kenya Value-Added Tax (VAT): Charged on goods and services at a rate of 16%. Corporate Tax: Local companies pay 30%, while foreign companies are charged 37.5%. […]