The government has stepped up spending in a bid to push growth back up to 6.5-7% from the 2014 level of 5.3%. In his June 2015 budget statement for the 2015/16 fiscal year, Cabinet Secretary for the National Treasury Henry Rotich said the government also aims to maintain macroeconomic stability and counter challenges such as security, drought,...
The government has made strengthening security and improving confidence a priority and it is not difficult to see why. Security concerns – a result of recent terrorist incidents, including the April 2015 Garissa University attack and the 2013 Westgate Mall attack – have had a noticeable impact on certain sectors of the economy. The most...
The country has a huge need to develop infrastructure and provide services, and the government acknowledges that it cannot succeed alone. Gabriel Negatu, the African Development Bank’s (AfDB) regional director for East Africa, told OBG that Kenya had a KSh206.7bn ($2.3bn) gap to fill in financing infrastructure for which the private sector...
Kenyans have a talent for making technologies and new ways of doing business work where other markets have failed. Bancassurance – or collaboration and integration between banks and insurance companies – has been tried in many African markets. In Kenya it is increasingly central to insurance and has already driven a few high-profile takeovers...
Like much else in Kenya, the fiscal policy as outlined in the 2015/16 budget statement is focused on “fast-forward” development. Spending on infrastructure and support for businesses are aimed at driving growth, which the government has forecast at 6% in 2015 and the coming years. When Cabinet Secretary for the National Treasury Henry Rotich...
Kenya has undergone a significant political and governance transformation over the last five years. New measures to encourage a more stable and democratic system have been ushered in, changing the way Kenyans are governed and how the different layers of administration interact. These structural alterations are good news for the country,...
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