Since 2022, several multinational companies have either closed shop or reduced operations in Kenya, raising concern over the country’s business climate.
Although there’s a lot of PR hype about the economy looking up the sad reality is that multinationals are now exiting because of prohibitive business environment.
According to the Federation of Kenya Employers, over 5,500 Kenyans lost jobs in just three years as companies exited or scaled down due to high taxes, unpredictable policies, and rising operational costs.
Here is a list of some notable multinational companies that have exited:
1. CMC Motors Group – Closed in January 2025 due to market challenges.
2. Lipa Later – Shut down in March 2025 because of financial problems.
3. Procter and Gamble ( P& G ) – Left Kenya in 2024, blaming high costs of doing business, leading to 850 job losses.
4. Copia Kenya – Went into liquidation in June 2024 after failing to secure more funding.
5. De La Rue – The currency printer exited in 2023. The government blamed digital transactions, though CBK later awarded the printing contract to a German firm.
6. Grow Intelligence and RejaReja – Both pulled out, with RejaReja moving its focus to Uganda.
7. Twiga Foods – Suspended Nairobi operations in June 2025 after repeated layoffs.
The below companies have been forced to restructure, ostensibly, as a result of harsh business environment.
1. G4S Kenya – Laid off 400 employees in November 2024 due to reduced revenue.
2. Flutterwave Kenya – Cut jobs in March 2025.
3. BAT Kenya – Restructured in December 2024, resulting in job cuts.
These exits affect not only jobs but entire business ecosystems, including logistics, suppliers, and service providers. Analysts say companies are choosing neighbouring countries like Tanzania and Ethiopia, which offer more stable, affordable environments for business.
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