Kenya is a dynamic market in East Africa, offering Swiss and Liechtenstein exporters opportunities in its robust services sector and renewable energy landscape. Its strategic position and growing venture capital scene make it an attractive destination for innovative business solutions.
Agriculture remains a key contributor, accounting for around 22–23% of GDP, while the country’s global leadership in renewable energy - with roughly 85–90% of electricity generated from geothermal, hydro, wind and solar - creates growing demand for sustainable technologies. Digitalisation continues to accelerate, supported by an advanced mobile-money ecosystem and expanding ICT services.
At the same time, Kenya faces high public debt, fiscal pressures and reliance on external financing, which require exporters to plan carefully. Swiss companies offering precision technology, cleantech, digital services and high-quality industrial solutions can find attractive opportunities in this evolving market.
No
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
0.13 0.13 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
19.02 19.02 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
With its role as East Africa’s economic, commercial and financial hub, its strong renewable-energy base and a dynamic ICT ecosystem, Kenya is a key regional gateway where Swiss and Liechtenstein cleantech and ICT innovators are uniquely positioned to make a real impact.
Stéphanie Labité
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FAQs
What is the current economic situation?
Kenya recorded real GDP growth of about 4.7% in 2024, down from 5.6–5.7% the previous year, reflecting tighter global financial conditions and domestic fiscal adjustments. Inflation eased to around 4.5%, improving purchasing power, while employment expanded - mostly in the informal sector. With the Central Bank Rate reduced to 11.25%, borrowing conditions are slightly improving, though public debt remains high. Exporters should closely monitor currency trends, financing conditions and fiscal reforms.
What are the main export and import trends?
Trade between Switzerland and Kenya softened overall, with Swiss exports declining by 3.8%, largely due to reduced shipments of chemicals and pharmaceuticals (traditionally more than 70% of Swiss exports to Kenya). Swiss imports from Kenya, however, increased by 4.9%, driven by higher imports of coffee, tea and spices, despite a slight drop in cut flowers. This reflects shifting patterns and potential growth opportunities in high-value Kenyan agricultural products.
What opportunities exist for Swiss companies?
Swiss companies can tap into Kenya’s rapidly expanding services and digital sectors, especially in ICT, fintech, cybersecurity, and financial services. Significant potential also exists in renewable energy technologies, including geothermal, solar and wind solutions, given Kenya’s ambition to expand clean energy capacity. Additionally, there is growing demand for industrial machinery, agri-processing technologies, water management solutions and medical equipment.
Which sectors are most promising?
Promising sectors for Swiss exporters include services - especially finance, insurance, ICT and digital infrastructure - which anchor more than 55% of Kenya’s GDP. The ICT sector continues to grow strongly, with digital adoption expanding across industries. Energy is another key sector: Kenya’s globally recognised geothermal capacity and strong renewable mix create opportunities for Swiss engineering and cleantech firms. Agri-processing, healthcare technologies and urban infrastructure also offer potential.
What are the main challenges and risks?
Swiss exporters should prepare for regulatory complexity, occasional delays in cross-border transactions, and the challenges associated with Kenya’s listing on the FATF grey list, which increases scrutiny in financial operations. High public debt and currency volatility can affect payment reliability and long-term planning. Supply-chain constraints and local-content requirements may also apply. Strong due diligence, diversified risk mitigation and local partnerships are essential.
