In 2024, several companies announced their exit from the Kenyan market, primarily due to challenging economic conditions, high operational costs, and unfavourable business environments.
Some of the notable examples of companies that have left or planned to leave Kenya include Procter & Gamble (P&G).
The American multinational consumer goods corporation revealed plans to lay off approximately 850 employees as it prepares to cease operations in Nairobi by December 2024. This decision was driven by the high cost of doing business in Kenya.
The second company is Base Titanium, an Australian mining company. It announced that it would exit the Kenyan market due to dwindling titanium resources.
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PSC
Base Titanium indicated that it could not sustain its operations beyond December 2024, putting around 1,200 jobs at risk as a result of this closure.
The next company is G4S Kenya. While G4S did not completely leave the country, it announced significant job cuts affecting about 400 employees between November 2024 and April 2025.
This move was attributed to harsh economic conditions and reduced business opportunities.
Tile and Carpet Centre indicated plans for redundancies within its production department starting December 6, 2024, citing economic constraints and a decline in production demand as reasons for restructuring.
The overall trend indicates a worrying pattern where companies are either downsizing or exiting the Kenyan market altogether due to high taxation, increased operational costs, and an unfavourable investment climate.
According to reports from various sources, including the Federation of Kenya Employers (FKE), these factors have led to a significant outflow of businesses from Kenya.
Mobius Motors, a Kenyan automotive manufacturer, faced significant challenges that led to its decision to cease operations. The company struggled with high production costs and insufficient demand for its vehicles.
On August 5, 2024, the shareholders’ meeting that convened in Nairobi, resolved to liquidate the company and selected SVSK Sastry as the liquidator.
The company manufactured SUVs (sport utility vehicles) designed to handle the rough roads and rugged terrain found in many parts of regional Africa.
Kenyans queueing for jobs in Kenya.
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Nairobi Review