In recent years, insurance penetration and accessibility have been improving steadily in Kenya. The middle class is growing, more Kenyans have disposable income and there is potential for new demand for insurance. There is rapid urbanisation, giant infrastructure projects, new energy schemes and growing industry. In 2013 life insurance penetration stood at 1.2% of GDP and general insurance was...
Kenya Industry
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Kenya is one of the economic and political heavyweights of East Africa. Despite recent security issues, it is recording strong economic growth and maintaining its leading position in the region. Recent discoveries of new oil, gas and water reserves and a young population give further cause for optimism, and the government is working to put the right policies into place to maximise the country’s potential.
Despite high demand for cement in Kenya, profit margins in the sector remain under pressure, as competition ramps up.
As East Africa’s largest economy, Kenya has seen its economy grow by more than 4% for the last three years, according to data from the World Bank, while an improvement in fiscal indicators and a new constitution encouraging devolution have helped to improve governance and the public balance sheet.
Chapter | Industry & Retail from The Report: Kenya 2014
Industry in Kenya encompasses manufacturing, construction, and mining and quarrying. Combined, these sectors accounted for 14% of GDP between 2009 and 2012. Policy is being guided by the Vision 2030 national development roadmap (V2030), the National Industrialisation Policy Framework 2012-30 (NIPF) and the Second Medium-Term Development Plan 2013-17 (MTDP2), in tandem with the East African...
As with a number of African markets, expanding the capacity of Kenya’s utilities sector is a key part of the government’s blueprint for development. On the power side, the government aims to add 5000 MW of generation capacity to the existing 1672 MW by 2017. Down the road, the government intends to further expand capacity to meet the 17,000 MW of demand anticipated by 2030. Renewables such as...