Accounting & Bookkeeping

Accountants and bookkeepers, responsible for gathering financial and economic information and for tracking daily financial transactions, play a huge part in helping business and organizations plan and control their own finances. Financial professionals also collect and distribute data, compiled from their own day-to-day operations and research, providing parties such as investors, government officials, and private individuals with helpful business information. The Web offers a quick and easy way for people to learn about the accounting industry and profession, for clients to locate an accounting firm or independent consultant, and for professionals to find the right job. The links included herein relate to accounting and bookkeeping.

Investing in Kenya-East Africa:

Registration of a company or office in Kenya

Investing in Kenya has now been simplified through the Kenya Investment Authority (KIA), a parastatal formed to oversee ease in doing business in Kenya for Foreign Direct Investors (FDIs). The one-stop business registration concept at KIA has now made investors in East Africa Kenya happier than ever. Starting an office is now very easy and the time it takes to register a foreign company has been halved.

Foreign Direct Investments (FDIs) into Kenya are increasing at a steady rate given the continued streamlining of registration and set up processes by the new government. After a long hiatus of bad governance, the democratically elected government of Narc moved with a lot of speed to remove most of the red tape that previously marked investment road into Kenya. It required an investor a total of 21 business licenses and registrations to be able to do business in the country.

All these licenses would be from separate ministries and local authorities and one had to hop from one place to the other. It was almost criminal to think FDI in Kenya in those days Not only was this time consuming and tedious but it was also very expensive. Put in the scourge of corrupt officials and it was a sure dead-on-your-tracks scourge.

Most investment attempts by foreigners became a cropper before they even started when they came to realize it might cost them more in under the table dealings than it would to actually put down their money to invest.

Now the process has been highly reduced by cutting off all the unnecessary bureaucratic processes in an effort to make investment a one stop shop. The introduction of the Kenya Investment Authority (KIA) marked the centralization of investment procedures within the government.

Kenya is now among the easiest country to invest in, in regards to establishment of companies by foreign investors. The KIA developed a simple step by step manual to investment in Kenya which simplified the procedures to a 5 step process.

This includes:-

1. Fill the "One Stop" KIA application Form.
2. Engage legal advice in Kenya.
3. Register your business
4. Submit KIA form + Certificate of Incorporation + Articles and
memorandum of association to KIA
5. Issuance of The Investment License

Business Types you can register in Kenya
The principal types of business enterprises in Kenya are:

1. Registered Companies (Private and Public)
2. Branch offices of companies registered outside Kenya
3. Partnerships
4. Sole Proprietorships
5. Co-operatives

Companies are registered as limited liability companies as in 1 and 2 above, and regulated by the Companies Act (Cap 486). Kenya's legal system is based on English law and practice. A wide range of legal services are locally available.

Company Registration
The initial step in forming a company is to register the proposed company name with the Registrar of Companies at the Attorney General's Chambers in Nairobi. The Memorandum and Articles of Association should be filed with the Registrar of Companies who, upon satisfaction, issues the Certificate of Incorporation.

Opening a branch office of an overseas company
An overseas company wishing to open a branch office in Kenya should deliver the following to the Registrar of Companies:

• A certified copy of the Charter, Statutes or Memorandum and
Articles of Association of the Company, or other instruments
defining the constitution of the company;
• A list of the directors and secretary of the company, giving full
names, nationality and other directorships of companies in Kenya;
• A statement of all existing charges entered into by the company
affecting properties in Kenya;
• Names and postal addresses of one or more persons resident in
Kenya, authorised to accept, on behalf of the company, service of
notices required to be served on the company;
• Full address of the registered or principal office of the company in
its home country; and,
• Full address of place of business in Kenya.

Both private and public companies may allot shares for considerations other than cash. Companies need to inform the Registrar of Companies of such allotments and submit a written contract constituting the title of the allottee.

Key Investment Opportunities in Kenya

Kenya offers a wide range of investment opportunities

As one of the emerging economies to watch and the largest in east and Central Africa, Kenya offers plenty of investment opportunities for both local and foreign investors.

Agriculture
Opportunities exist in production and export of products such as Cut-flowers, French beans, Pineapples, Mangoes and other fruits Cereals, Leather and leather products, canned beef Honey Farm machinery and other products
Read more...

Tourism
Kenya is naturally endowed in Wildlife, Pleasant climate, Beautiful scenery, Sandy beaches, and world beating Sportsmen & women. There are enormous opportunities in accommodation provision, Recreation and Entertainment
Read More...

Manufacturing
Kenya is has a well developed manufacturing sector with access to markets. Opportunities are available in the manufacture of Sheet glass, Fertilizers and pesticides, Textiles, Wood products, Cement, Pharmaceutical, Salt works Tyres, Iron and steel and Motor Vehicle Assembly Read More...

Wholesale & Retail
Local and foreign investors have an opportunity to invest in the fast growing wholesale and retail sector.
Read More...

ICT/Business Process Outsourcing
Join the most exiting and fastest growing sector and a new frontier in Business Process Outsourcing. And take advantage of abundant highly educated and skilled human resources in the region.
Read More.

Financial Services
Kenya has a well developed financial sector with major multinational financial institutions serving local and regional markets from Nairobi.
Read More...

Other Sectors are:

• Energy – Geothermal & Alternative energy
• Mining
• Building & construction
• Privatization

East Africa's Ultimate Destination

Investing in Kenya

1. Political stability

Kenya has maintained remarkable stability since independence despite the changes in its political system and crisis in neighboring countries. In December 2002, Kenyans held democratic and open elections which were judged free and fair by international observers. The country's stable political background has enabled a business-friendly environment. Added to that should be the advantageous strategic location, access to target markets, attractive incentives, as well as a liberalized economy with a well established private sector. The relative calm was however punctuated by a short span of the violence occasioned by the disputed December 2007 polls that led to over 1,000 deaths and displacement of over 500,000 people. This was settled through efforts of Kofi Annan and a Coalition government was formed.

2. Dynamic private sector

The private sector has played an important role in the economic development of the country and has participated extensively in all economic sectors.

3. Harmonious industrial relations

Kenya has enjoyed decades of stable and harmonious industrial relations in all sectors of the economy, with trade unions existing in every sector.

4. Preferential market access

Kenya has the benefit of being geographically positioned centrally in Africa, hence being the hub of the rest of Africa and to rest of the world. Kenya is an active member of most regional and international trade agreements.

Kenya's major trading partners are the COMESA and the EAC members, the European Union, Japan, the United Arab Emirates and the United States. The East African market has a strength of more than 93 million consumers. Investing in Kenya provides investors with access to the Common Market for Eastern and Southern Africa (COMESA), which has a population of over 400 million consumers, and the EAC market.

5. Qualified work force

Kenya has highly developed human resources, which are considered the best asset in the region. The Kenyan workforce is regarded as able and enterprising with the professionals being trained both within the country and at institutions in Europe, North America, Australia and other parts of the world. Kenya has the highest number of university and college-educated, English-speaking professionals in Africa.