Kenya's Trade Sector Sees Significant Growth in Investment and Industrialization

Nairobi, Kenya – In a press briefing today, Hon. Salim Mvurya, Cabinet Secretary for the Ministry of Trade, Industry, and Investment, highlighted substantial advancements in Kenya's trade and investment landscape. He emphasized the importance of county aggregation and industrial initiatives for rural industrialization and job creation.

PHOTO: (From Left) Deputy Chief of Staff and Delivery Management Eliud Owalo, CS Ministry of Investment, Trade and Industry Salim Mvurya and Secretary to the Cabinet Mercy Wanjau during a joint press briefing in Nairobi

Mvurya announced that Kenya has emerged as the leading country in Africa for foreign direct investment (FDI) momentum, with FDI increasing by an impressive 98%—from $759 million in 2022 to $1.5 billion in 2023. Domestic investment also saw a significant rise of 26%, climbing from 380 billion to 480 billion Kenyan shillings.

The Cabinet Secretary also noted the operationalization of two public special economic zones: the Naivasha Special Economic Zone and the Dongokundu zone, which has resolved previous challenges and attracted 97 potential investors.

Additionally, Mvurya reported that 98% of government services have been integrated into the e-Citizen platform, streamlining compliance processes. He commended the Deputy Head of Public Service for his leadership in these initiatives, underscoring the government's commitment to fostering a conducive environment for business growth and investment in Kenya.

The Deputy Chief of Staff Eliud Owalo stated that the Ministry is commitment to fully operationalize a comprehensive e-commerce strategy. This includes developing a new e-commerce policy to be submitted to the Cabinet and a digital services export strategy aimed at stimulating growth in the sector.


Owalo emphasized the importance of revitalizing the Kenya National Trading Corporation (KNTC), describing it as a "sleeping giant" with deep sentimental value for Kenyans. The Ministry plans to implement a turnaround strategy for KNTC to harness its potential.

Further, the Ministry aims to develop six flagship export processing zones and construct 19 Kenya Industrial Processing and Export Support (KIPES) centers, focusing on sectors such as horticulture, textiles, and ICT. This initiative is expected to nurture small and medium enterprises, fostering local shareholding and boosting Kenya's economic landscape.

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