The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Kenya  
Rank: 68 · Score: 43.6  

Basic facts        
Population (millions) 54.0   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 113.3   M&A volume (quartile) 3rd
GDP per capita (US$) 2,097.4   Venture capital investments (quartile) 3rd
GDP growth (per cent) 5.3   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 68 54, 55, 55, 55, 57 43.6
1 Economic Activity 47 79, 77, 83, 76, 78 76.8
2 Depth of Capital Market 66 57, 54, 56, 55, 59 32.1
3 Taxation 102 22, 18, 23, 23, 23 68.1
4 Investor Protection and Corporate Governance 73 42, 53, 53, 52, 52 61.2
5 Human and Social Environment 80 37, 37, 38, 40, 45 28.4
6 Entrepreneurial Opportunities 73 57, 56, 54, 55, 52 43.2


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Kenya  
Africa
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Morocco 67.4 51.1 62.9 69.2 28.0 53.0
Tunisia 56.3 43.6 114.3 66.0 26.4 54.4
South Africa 18.2 48.8 83.9 78.8 30.5 57.9
Kenya 76.8 32.1 68.1 61.2 28.4 43.2
Nigeria 76.1 41.7 57.5 60.2 20.5 40.2
Mauritius 55.4 31.8 114.4 90.7 17.1 40.9
Ghana 72.4 29.3 79.2 49.9 28.7 39.1
Last updated: 4 Nov 2023