| THE VISION
The Kenya Vision 2030 is the most comprehensive and focused development blueprint ever produced by the Kenya Government since independence in 1963. Because it covers all sectors of the economy and all regions of the country, it far surpasses all previous blueprints which tended to focus on the development of the so called high value areas at the expense of the arid and semi-arid sections of the country.
This blueprint aims to transform Kenya into a newly- industrialising middle-income country that provides a high quality of life for all its citizens by 2030. For this goal to be reached, the country’s economy would have to grow at an average rate of about 10 per cent per year over the next 20 years.
To successfully realise the Vision and ensure the timely implementation of all its projects, a Vision Delivery Secretariat, under a Director General, has already been created within the Ministry of Planning and National Development. The secretariat reports to the Vision 2030 Delivery Board, which oversees its policy initiatives.
The Vision is based on three pillars: economic, social and political. The economic pillar aims to maintain a sustained economic growth rate of 10 per cent per year over the next 20 years; the social pillar focusses on building a society in which all people are educated, healthy and hunger-free, while the political pillar concentrates on building democratic, people – centred systems of government from the grassroots to the national level.
The economic, social and political pillars are anchored on success in 10 specific areas. These are: building a strong and steadily- growing economy; reforming the way Kenyans are governed; helping the poor,
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building a modern network of roads, railways, ports, airports, water and sanitation facilities and telecommunications; developing new energy projects and exploiting the potential of science, technology and innovation fully.
The others are developing the country’s human resources fully; reviewing the relationship between the people and the land on which they live and farm; building a society free of danger and fear; and creating a world – class public service system.
Under the economic pillar, emphasis will be laid on six major sectors: tourism, retail and wholesale trade, agriculture, manufacturing, business process offshoring and financial services.
Specifically, during the Vision period, Kenya will be aiming to be among the top 10 longhaul tourist destinations in the world dealing with the high end of the market.
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In agriculture, the emphasis will shift to adding value to the country’s agricultural products while further specific efforts will be made to lower operating costs in the wholesale and retail sector.
Kenya will also be aiming to become the provider of choice of manufactured goods for the East and Central African region and to create the most vibrant and competitive financial services sector in the region. It will also be venturing into the new sector of business process offshoring by providing specialised services via the internet to individuals or companies overseas.
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Under the social pillar, emphasis will be laid on seven specific areas: education and training; health; water and sanitation; the environment; housing and urbanization; gender, youth, sports and culture; and equity and poverty eradication.
Specifically focusing just on education and health, Kenya will aim to provide the best education possible for the highest numbers while at the same time ensuring that all its citizens can access whatever medical services they need at the lowest possible cost.
Under the political pillar, Kenya aims to transform itself into a truly democratic country in which race, ethnicity, religion, gender or economic status do not affect the fundamental political rights of any citizen.
The constitution will be supreme; the sovereign power will repose and belong to the people; all people will participate in all the structures and systems that govern them and there will be a constitutional separation of powers between the judiciary, executive and parliament.
In this regard, a new, people-driven constitution, which upholds all these fundamental principles and contains a special Bill of Rights, was promulgated in August, 2010 paving the way for much more dramatic developments under the Vision’s political pillar.
| Why invest in Kenya?
If the overall strategic goals of Vision 2030 are to be achieved, the levels of both local and foreign investment in the Kenyan economy will have to be increased by very substantial margins. But why should anyone, foreign or local, choose to invest in Kenya between now and 2030?
Here are just a few reasons why:
With a current estimated gross domestic product (GDP) of about $30 billion, Kenya has one of the largest, most diversified and broad-based economies in the whole of Africa and certainly in the East African region.
It is easier to travel from Kenya by air to any part of the world than it is from any
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other country in the East and Central African region.
Kenya has a very deep pool of educated and skilled manpower. No other country in East and Central Africa can match it in terms of the technical or professional potential of its manpower.
The Kenyan economy is now fully liberalised across the board. All government controls have been removed in all sectors including agriculture, transport, manufacturing and financial services.
All government departments are now subjected to performance contracting, which has enabled the public sector to operate more effectively and better support private business and investment.
The country has the most developed stock market in the East and Central African region.
| Where to Invest
The Vision 2030 blueprint has identified numerous sectors within the Kenyan economy that are ideal for initial or additional foreign or local investment. These investment-friendly sectors cover the whole range from tourism, agriculture and transport to energy, communication, building and construction to pharmaceuticals.
There are also a number of emerging sectors including eco-tourism, telecommunications equipment and fisheries which could be of special interest to the non-traditional investor.
If one was going to invest in Kenya between now and 2030, here are some of the areas, selected just from the energy sector, in which such money would be safest, competition least and returns highest.
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Manufacturing Transformers
The government plans to connect one million customers to the national power grid by 2012. To do this, it will require at least 60,000 new transformers and the capacity to repair at least 2,000 others annually. Any investor who puts his or her money in this area is unlikely to go wrong.
Geothermal Development
The estimated geothermal energy potential in the country’s Rift Valley region alone is between 4,000 and 7,000 mega watts (mw). Out of this vast potential, only 163 mw has so far been developed for the generation of electricity. Under the Vision 2030 projections, at least an additional 490 mw should have come on-stream from this source by 2019. No specific investors have been identified yet.
| Coal - fired plant
The Kenya Government has commissioned a feasibility study on the establishment of a 300mw coal power plant in Mombasa. It would require from 0.9 to 1.1 million tonnes of coal a year, all of which would have to be landed at the Mombasa port and transported to the power station. No investors have yet been identified for this project.
Renewable Energy
A lot of investment opportunities currently exist in Kenya in the renewable energy sector. These include the production of solar electricity generators and wind power equipment. The annual market demand for the photo voltaic panels is now about 500 kilowatt at peak and is projected to grow at 15% annual. In addition, a wind map for the whole country has already been developed.
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Nuclear Power
Nuclear power generation has been identified as a potential source of affordable electricity for spurring economic growth. For a start, the private sector will be given an opportunity to develop a 300 – 1,000 mw nuclear power plant over the next 7 years. Private sector players with the necessary experience and resources are being sought to commence work forthwith.
More than 100 investment opportunities across the Kenyan economy have already been identified. Details can be found in the Vision 2030 investments booklet.