Business In Africa – Nairobi, An Important Business Hub

The city having grown around its CBD, Central Business District, Nairobi’s business contributes considerably to the country’s overall economy.Most companies which also contribute to the country’s economy have their headquarters housed in Nairobi.This is especially the case for international companies and multi -national organizations. Examples include the world wide popular soft drink company coca-cola and auto mobile company General motors.

Moreover, Nairobi has a more liberal market as compared to East Africa in general, and the better access to infrastructure makes it a more favorable location for the Companies.The Government is also making policies and efforts to stimulate the economic growth of this city by encouraging both foreign investors and locals to invest in the various businesses in the city.The city also has modern skyline buildings and access to enhanced technology along with an employee pool consisting of well educated and high skill professionals.Nairobi’s business is said to contribute to Kenya’s GDP at a percentage of sixty.

Most of the businesses within Nairobi function through Monday to Friday, making it a 5-day week, and in general office timings are from 8 to 5.The industry in the region not only include the agriculture and poultry related outlets which provide canned food, maize meals and both dairy and poultry products, but it also includes horticultural products like flowers, other things like coffee trading and products made from steel and  plastic as well.

There is a weekly auction of coffee products at the Nairobi stock exchange.While the country’s agricultural enterprises make up for 24 percent of the country’s economy, it is the BPO business, the newly popular Kenya Business Process Outsourcing services, which contribute to almost 59.2 percent of the country’s economy.However, the country lacks manufacturing industries which can provide a solid thrust to the economy.

The jua kali sector is an important part of the city’s business contributors.It comprises of various artisans who deal in fabricated materials and other craft items that form an important parts of the city’s business.The Muthurwa, Gikomba, City market and Maasai markets comprising of small scale businesses also contribute to the number of  Nairobi businesses.If you are in a hurry, visit Kenya business directory to see a bigger breakdown of individual businesses listings by different sectors.

The Nairobi National park contributes to Nairobi business as part of a tourism sector.The Nairobi National park is also the world’s only national park, which is located in the heart of a well-developed city.The tourism sector employs a large number of locals in the hospitality sector, and so it is very important to Kenya’s financial wellbeing.

Local and international banks are housed within the city providing banking to the city residents and the rest of Kenya.Barclays bank, Standard Chattered bank and  CFC Stanbic banks are some of the multinational banks that have branches in Nairobi, and there are also various local banks like Equity and Co-operative Bank, which provide banking services.Kenya boasts of a presence of 47 banks in the country, and some of these banks also provide the users with the access to 24-hour Automated Teller Services.

The Nairobi Stock exchange is said to be leading in exchange of securities in East Africa and also Central Africa. It offers listings of stocks and securities of major companies for trading.

Real Estate also forms one of the booming industries in the city’s businesses.One can buy properties by looking at the properties for sale in Kenya and then following the legal steps to buy or lease that property.

Owing to the large industrial presence, Nairobi is not only an important business hub for Kenya, but also equally important to East Africa in general.Another important sector in Kenya and especially Nairobi is the presence of the different wedding planners in Kenya . There are various exhibitions for businesses and industries to showcase their products and services and reach out to prospective buyers.