Doing business in Kenya; a list of things to consider

In just the last few years, the world has watched as a technological shift has become a significant aspect of daily life. One nation, in particular, is witnessing a rapid flood of change caused by technology.

In just the last ten years alone, the East African country that is Kenya has established itself in almost every technical industry imaginable, introducing practical resources and tools that permit easy access. If there is a single ground-breaking tool to mention, it’s smartphones.

Smartphone accessibility will be advantageous.

In as little as the last few years, smartphones have changed everything from agriculture, e-commerce, health, education, transport, and more. With the introduction of smartphones, unrestricted accessibility is viable, something unthinkable just a few years earlier.

Ten years prior, only a small population of Kenya had access to smartphones with 3G connectivity. Most Kenyans relied upon 2G network with a relatively poor internet connection, as opposed to now, where more than 80% of the Kenyan population can gain access to 3G coverage or even higher, exhibiting the extent of how far Kenya’s connectivity infrastructure has come in such a short time.

Kenya’s connectivity infrastructure boom is vital.

In a report conducted by the Communications Authority of Kenya, figures showed that in 2010, 22 million Kenyan people had access to a mobile network subscription. Still, then, in 2018, that number expanded by a mammoth to 46.6 million. So, it’s no wonder that Kenya has a higher internet speed connectivity than nations such as Ghana, Uganda, Namibia, and Rwanda combined.

The accessibility to fast internet connectivity, coupled with the ever-increasing number of individuals with smartphones accessibility and the lowering cost of the internet, has launched many online-focused jobs. In the last ten years alone, we witnessed the rise of the Ubers of the world, fintech giants, and e-commerce companies, initiating interruptions to conventional business models as tech-based inventive models become essential to a thriving business sphere.

2020 figures showed that Venture Capital funding for African-based fintech start-ups had substantially expanded by 51%, with grants being created for finance applications and consumer credit checks. Further reports showed that Kenya received investments of up to $62 million. These figures indicate the immense growth Kenya has undergone and why many international businesses are focusing on the expanding Kenyan market.

Mobile money has also changed payments considerably; just a decade ago, figures showed approximately 16 million mobile money customers across Kenya, completing upwards of 2 million daily transactions. Jumping forward to 2019, the number of people with mobile money subscriptions increased to a massive 54.8 million. The estimated value of mobile money transactions per annum rose from billions to trillions. This has undoubtedly reformed the face of banking. Customers can now receive and send money from out of the country using their smartphones.

Mobile consumption making a big difference for businesses. 

E-commerce has altered the attitudes of many start-up owners. These owners are now required to incorporate online payments into their business strategies. Not only this but many e-commerce owners that commonly only aim at customers in bigger cities and towns also explore the idea of accessing people living in rural areas. Tapping into this otherwise untapped customer base via online sales allows companies an advantage because they can now access even more people.

In the last ten years, the technical uprising has broken many barriers, from traditional media consumption, healthcare, agriculture, and the introduction of taxi-hailing services like Uber, which has considerably renovated the transport sector. Kenyans are no longer only resorting to hailing taxis. Instead, they can book and ride securely at their fingertips.

Healthcare has seen a considerable change, and for the population of Kenyans that cannot afford healthcare, these technological developments have been significant. Many apps on smartphones allow users access to various healthcare solutions, such as booking consultations online, showcasing the link between technology and an expanding market for businesses to reach.

Technology has also helped the agricultural industry immensely in the last few years. Unlike before, farmers can now access the online market field. Many mobile apps have allowed farmers more choice, and start-ups have seen this as a developing sector.

The consumption of media is also primarily impacted by the technological revolution of the last decade. Gone are the days when reading the news, watching TV, or listening to the radio were a must to access media. Today, Kenyans have quick access to media via their smartphones, and this means global companies can access online audiences far better and more efficiently.

The rapid demand for Swahili translation services. 

Unfortunately, rising financial progress in the African continent carries its impacts only on a select number of nations. Still, a few Swahili-speaking territories make it onto this list, and unsurprisingly, Kenya, where Swahili is the official language, may well be exceeding the other countries on the list.

This East African nation is the leading economy in Central and East Africa. Not only this, but Kenya is the epicentre of the continent’s financial services market. Consequently, there is a rising demand for business and dependable Swahili translation service providers for this region.

The benefit of finding the right Swahili translation provider for businesses. 

Translations assist in merging communications, but they also support removing the language block and allowing successful relations between foreign companies.

One of the critical trials awaiting businesses that want to move toward the Kenyan market is certifying valuable Swahili translation services that precisely duplicate values that genuinely relate to consumers in the best way. We have learnt that Kenya is a rising technology hub with a median of 100 million Swahili speakers; therefore, getting the communication right is essential.

To achieve effective Swahili translations in Kenya, businesses are creating tailored translation campaigns that cover numerous socio-cultural aspects. This, consequently, lets businesses echo their idea with their target customer base to build a brand image they can relate with. Whether companies need the translation of a brochure or a financial paper translation in Kenya, it’s vital to get it right. How companies put across the thoughts and messages in a language their potential customers can comprehend is necessary.

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