The economy and thus the hair market in Kenya are growing, faster and faster. This growth is proven by data from the World Bank and the United Nations. Thanks to this growth there is real business opportunity for Wholesale Hair Suppliers in Kenya. If you want to drive a booming business, continue reading.

Why is the economy in Kenya growing?

The growth of the economy is supported by some economic programs launched a couple of years ago by the government, after advice from UNICEF.
Two programs have proven to be essential for the economic growth and welfare in Kenya:
– direct cash transfer programs are well targeted, progressive and supportive of poor people
– Government spending on public education benefits disproportionally poor people

More than 60% of direct cash transfer benefits is reaching the poorest 40% of the population of Kenya. The World Bank praised Kenya on this effort: “For example, cash transfer programs give poor households the opportunity to invest in their future to escape poverty.”

Why is the growth of the economy good news for you?

Kenya’s real growth of the total production of goods and services is projected to rise to 5.7% in 2018—up from 4.9% in 2017—and continue to increase steadily to 5.8% in 2019, and 6.0% in 2020, according to the World Bank’s 18th Kenya Economic Update (KEU). Household consumption is supported by strong remittance inflows (like money coming through MoneyGram and Western Union from Kenyans living and working abroad) and improved rains which has led to better harvests and lower food prices.

And this is very good news. Not only for the country, but also for you!

Business opportunities for Wholesale Hair Suppliers in Kenya

With more people out of poverty, with more money available to spent on other items than pure basic needs, the demand for beauty and hair extensions is growing too. According to a survey performed by AfroUrembo, Kenyan women spent nearly 20% of their income on hair, against 15% in 2016. This growth in spending finds its origin in increased income for women. With the sunny forecast for the economy in Kenya, the market for hair and hair products will benefit too.

2017 Trade data from the United Nations show 75% of the hair imported in Kenya, is synthetic hair. In 2017 123 thousand kilo synthetic hair was imported, of which nearly all (98 percent) from china. The same ratio for human hair.

Grab your opportunity before somebody else does
And here comes your business opportunity, at least if you are a wholesaler or ready to become a wholesaler of hair extensions in Kenya. A free trial of a online shopify hair store is a great and easy start!

If you have a hair business and want to grow your business, or if you have plans to start selling online wholesale, let me know, leave a comment below or contact me on WhatsApp. Do not let this opportunity be somebody else’s moneymachine.